"We are listening to these offers," Hainer said, according to Reuters. Hainer noted that the company has been continually asked if Rockport is for sale.
A Wall Street Journal report indicated Adidas hired investment bank Guggenheim Partners to explore such a sales. Rockport has between $30 million and $40 million in annual earnings before interest, taxes, depreciation and amortization, or Ebitda, sources told the Journal. As such, the sources said Rockport could command $300 million or more.
Rockport, which was acquired by Adidas when it bought Reebok in 2006, had sales of $53 million in the first quarter, down 12.1 percent on a reported basis and off 6.9 percent on a currency-neutral basis.
By press release
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