NEW YORK, March 30 /CNW/ - Fila Korea Ltd. and Sport Brands International
Ltd. (SBI) announced today that Fila Korea has acquired the global Fila
footwear and apparel business from SBI for an undisclosed purchase price.
The transaction was structured as a sale of SBI's subsidiary, Fila
Luxembourg, which holds the rights to the worldwide use of the brands and
trademarks of "FILA". SBI will retain ownership of Cloudveil Mountain Works,
Inc. and Motionwear, Inc.
Mr. Yoon-Soo (Gene) Yoon, the Chairman of Fila Korea who, in 2005,
completed a successful management buyout of Fila Korea from SBI stated, "We
are proud and honored to have purchased the global Fila business and look
forward to leading the company on a global basis. Fila is an internationally
recognized trademark and we believe it has incredible potential. We plan to
capitalize on the brand's great tradition and to build upon its illustrious
For further information:
For further information: PERRYBURCH Sports & Entertainment Marketing
Howe Burch, 410-522-3365 email@example.com