Nike eyeing Umbro?

Internet reports suggest that sportswear giant could spend over £230m on England football kit maker.
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Nike is apparently in talks to buy Umbro in a deal that could be worth over £230 million.

Umbro - which supplies the England football team's kit - saw its shares soar almost 30 per cent to value the company at £233m after it said it has received an approach from an unnamed party.

According to Brand Republic, Nike's move comes just two weeks after Umbro issued a profits warning, following a huge downturn in sales of England replica kit.

Replica football shirts make up 90 per cent of Umbro's business in the UK, which generates around 27 per cent of group turnover.

Nike has previously completed a number of smaller deals as its looks to expand its portfolio of brands and sports. It paid £149m for the Converse shoe brand in 2003, following deals for another shoe brand Cole Hahn, skate and snow brand Hurley and ice hockey business Bauer.

The takeover would give Nike a huge presence in the Premiership. Umbro supplies kit for six Premiership teams, while Nike itself handles kit for Arsenal and Manchester United. 


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