Adidas AG has officially divested and sold Mitchell & Ness Nostalgia Co. to a new entity largely owned by private equity firm Juggernaut Capital Partners.
The Adidas Group decided to sell the nostalgia company, which focuses mainly on celebrated sports memorabilia, in order to focus on its performance and sportswear lines. The sale of Mitchell & Ness will result in a one-time gain of between 10 and 50 million Euro (approx. 11 to 55 million USD) that will be reinvested in the “Creating the New” initiatives the Group has implemented.
In June of 2016 Juggernaut Capital Partners announced the final closing of JCP III, a $380 million investment fund. The target amount was $350 million and focused on Juggernaut’s consistent strategy of investing in lower middle market companies primarily int he consumer and business services sectors.
About Juggernaut Capital Partners
Juggernaut Capital Partners, headquartered in Washington, DC, is a leading private equity firm focusing on lower middle market companies primarily in the consumer and business services sectors. With in excess of $725 million in committed capital, JCP provides capital for growth, recapitalizations, acquisitions, and buyouts. For more information on Juggernaut Capital Partners, visit http://juggernautcap.com/.