NEW YORK — Adidas will pay $2 million to purchase an equipment store in Toronto, a deal that will bring together the company’s fitness and athletic apparel business.
The Toronto-based sports apparel giant, which was previously a subsidiary of Japanese giant Adidas, will open the store on May 11.
The company said the partnership is the first time Adidas will bring fitness equipment directly to Canada.
The deal will be the largest in the United States by value, bringing Adidas’ fitness and fitness apparel business to about $8.7 billion.
Adidas previously bought fitness equipment company Elite Fitness for $2.4 billion in December.
The company said it will use the new space to continue its relationship with the city.
When to shop for medical equipment in Maine
How Fox News was able to build a massive video-on-demand studio equipment business