Adidas, which has owned Reebok since 2006, announced today it is selling the company to Authentic Brands Group (ABG) for up to €2.1 billion ($2.5 billion).The German sneaker maker revealed its formal intention to sell Reebok earlier this year, after years of struggles with the brand. When Adidas originally bought the company for $3.8 billion, it was supposed to help Adidas take on Nike in the valuable US sneaker market. While it was far from the force it had been in the 1980s, when it dominated the US market at the height of the aerobics era, the brand still had the potential for a turnaround. It never fully materialized, however.ABG is undoubtedly hoping its approach with Reebok, which reco
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