German sports brand Sportswear is in talks to buy the German sports footwear brand Bregenz for $15 million, according to people familiar with the matter.
The transaction is expected to close in the first half of the year.
Bregens German footwear empire was founded in 1997 and is the countrys biggest athletic footwear brand, including in-house athletes, athletes and sponsors.
The acquisition of Bregenkus would create a significant addition to the German footwear industry, which has seen significant growth in the last five years, according a recent report by Euromonitor International.
Bregens’ market value is estimated at $12.6 billion, making it the second-largest sports brand behind Adidas Group.
The company’s footwear brand is widely regarded as one of the top brands in the world, and it has won awards and has a large presence in the global sporting arena.
In addition to Bregns footwear brand the brand also owns Breganz sportswears, as well as the company’s sporting brands.