Brussels, 14 June 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Dome Corporation (‘Dome’) by Itochu Corporation (‘Itochu’), both of Japan, and Under Armour Europe (‘Under Armour’) of the Netherlands. Dome is active in the sale, distribution and advertising of sports apparel and footwear of Under Armour’s brand in Japan. Itochu is active in a wide range of industries, including textile manufacturing.
Under Armour, currently a shareholder in Dome, is a publicly traded company active in the development, marketing and distribution of apparel, footwear and sport-related accessories. The Commission concluded that the proposed acquisition would raise no competition concerns, given Dome’s limited foreseen activities in the European Economic Area. More information is available on the Commission’s competition website, in the public case register under the case number M.10724.
Source – EU Commission