Nike plans to acquire Umbro

Nike has announced their plans to acquire British company Umbro for $582 million.

This deal was announced by the two companies yesterday as Nike now aims to have a bigger presence in the global soccer market.

Nike said that they would acquire Umbro through their subsidiary Nike Vapor Ltd.

Umbro specializes in manufacturing soccer-related apparel, footwear and equipment. These are sold in as many as 90 countries around the world.

Brian Barwick, the Football Association’s chief executive officer spoke on this deal between Nike and Umbro: “Nike has provided firm assurances that The FA relationship with Umbro will be protected and enhanced, and we look forward to working closely with both companies moving forward.”