American Sporting Completes Avia Buy
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IRVINE — American Sporting Goods Corp. has completed its purchase of Avia Group International Inc. shoe and apparel concern from Reebok International Ltd. Terms were not disclosed.
Avia, purchased by Stoughton, Mass.-based Reebok in 1987 for $181 million, never generated substantial returns. Annual sales peaked at $201 million in 1988, dwindling last year to $129.6 million, or 3.7% of Reebok’s total revenue of $3.48 billion.
Irvine-based American Sporting Goods sells athletic footwear under the Turntec and Nevados brands and holds the U.S. license for Ocean Pacific footwear.
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