Simmons in association with TMI Associates has advised Sumitomo Rubber Industries, Ltd. on a US137.5m acquisition of Sports Direct trademark rights to the DUNLOP brand and related sporting goods and licensing businesses.
Before this transaction, SRI already sold DUNLOP-branded products as part of its tyre business as a licensee in 86 countries, as well as owning DUNLOP trademark rights in Japan, South Korea and Taiwan. With this transaction, SRI has now become the owner and licensor of DUNLOP trademark rights for all of these jurisdictions and will produce and sell DUNLOP-branded products globally. SRI has also acquired Sports Direct’s sporting goods business for the manufacture and sale of tennis and golf goods under the DUNLOP brand, as well as the licensing business for the DUNLOP brand.
Through its combined specialist resources, the joint venture between Simmons & Simmons and TMI Associates provides its clients with full-service, multi-jurisdictional advice across all areas of law as well as a fully bilingual English and Japanese language service.
Commenting on the transaction, Simmons & Simmons corporate partner Jason Daniel, said: "It has been very pleasing to be able to support SRI in its vision to bring the sporting goods rights back under common ownership alongside its sizable existing tyre rights portfolio and contribute to restoring the power of the historic Dunlop brand – fitting for a deal that was codenamed Project Revival. The transaction was challenging in many respects, not least given the extent and complexity of the IP portfolio, and it will be very satisfying to see the business progress under SRI’s ownership."
The Simmons & Simmons team was led in London by Simmons & Simmons corporate partner Jason Daniel assisted by Victoria Hewitt, Andrew Scott, Phoebe So, Annabel Stark, Haya Aftab (Corporate), Adrian Smith, Angus McLean, Nicola Walles, Jack Simmons (IP), Hinal Patel, Charlotte Reeson (ICT), Danny Tsang, Edward Smith (Pensions), Andrea Finn, Ashley Wooton, Laetitia Cooke (Employment), Ian Fraser, Kimberley Sayers (Incentives), Peter Broadhurst, Douglas Cadbury (Competition), Nick Cronkshaw, Laura Allwright, Elizabeth Keaveny, Celia Carr (Tax) and Kenichi Kinukawa (Dispute Resolution).
In Tokyo the team was led by TMI Associates corporate partner Hidehiro Utsumi and Simmons & Simmons Tokyo office head Richard Kramer.