Fila Korea Ltd. and Sport Brands International Ltd. (SBI) Announced Today That They Have Entered into a Definitive Agreement

NEW YORK--()--Fila Korea Ltd. and Sport Brands International Ltd. (SBI) announced today that they have entered into a definitive agreement for the sale of the global Fila footwear and apparel business to Fila Korea for an undisclosed purchase price.

The sale is structured as a sale of SBIs subsidiary, Fila Luxembourg, which holds the rights to the worldwide use of the brands and trademarks of FILA. SBI will retain Cloudveil Mountain Works, Inc. and Motionwear, Inc. following the sale.

Mr. Yoon-Soo (Gene) Yoon, the Chairman of Fila Korea who, in 2005, completed a successful management buyout of Fila Korea stated We are very excited to acquire the world-wide Fila business. Fila is widely recognized as one of the premier global sports brands and we believe it has tremendous untapped potential. We look forward to working closely with Filas talented management team and regard the existing employees as a valuable asset of the business.

Contacts

Mark Westerman
VP Marketing Communication
FILA
410-773-3825
mwesterman@fila.com

Contacts

Mark Westerman
VP Marketing Communication
FILA
410-773-3825
mwesterman@fila.com