Nike Buys Converse Page

: The acquisition allowed Nike to fill a mid-priced basketball shoe gap in its portfolio without diluting its own premium image.

: Nike paid ~$305 million for 100% equity, plus certain liabilities. nike buys converse

Nike acquired Converse in for approximately $305 million . At the time, Converse was a bankrupt legend struggling with debt and outdated technology, but Nike saw potential in its iconic status as a cultural and lifestyle brand. The Deal & Strategic Value : The acquisition allowed Nike to fill a