Business

Centauro's parent company buys Nike's operation in Brazil

The acquisition will require an investment of BRL 900 million from SBF

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According to the Brazilian newspaper Valor Econômico and Exame, the SBF group, owner of sporting goods retailers Centauro, has just announced the acquisition of Nike‘s operation in Brazil. With the agreement, the company becomes the exclusive distributor of the brand’s products in the country, both in online and physical retail over the next ten years.

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The acquisition will require an investment of BRL 900 million (around $211.8 million) from SBF. The purchase of Nike’s Brazilian subsidiary includes inventory and stores, but not intellectual property rights.

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The market’s response to the announcement was positive. The value of Centauro’s shares, which debuted on the Brazilian stock exchange, B3, in 2019, rises above 11% on Thursday (6).