RIO DE JANEIRO, BRAZIL - The SBF Group, owner of the sportswear retailer Centauro, has bought the Nike operation in Brazil. With the purchase, the retailer becomes the exclusive distributor of Nike products in the online and physical retail markes in Brazil for a period of ten years.
The purchase will cost SBF R$900 (US$212) million. The amount is subject to adjustment, as the group reported in a statement to the financial market. The purchase of Nike's Brazilian subsidiary includes inventory and stores, but not intellectual property rights.
The SBF Group will now act as a holding company . . .