The $2.5 billion deal is expected to close in 2022.
"It's an honor to be entrusted with carrying Reebok's legacy forward," Jamie Salter, the founder, chairman and CEO of Authentic Brands Group, said in a statement.
"This is an important milestone for ABG, and we are committed to preserving Reebok's integrity, innovation and values — including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand's success."
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