Adidas AG Raided in Tax Investigation

(Reuters) – Authorities raided Adidas AG (ETR:ADSGN) headquarters in Germany as part of a years-long tax investigation, a spokesperson from the company said on Tuesday.

Adidas (OTC:ADDYY) stated it has been in contact with customs authorities for several years about the matter and is providing them with documents and information.

The raid was first reported by Germany’s Manager Magazine.

The investigation covers the period from October 2019 to August 2024 and is related to compliance with customs and tax regulations regarding the import of products into Germany. The company noted it is cooperating with the authorities.

Adidas continues to work closely with customs authorities to clarify questions arising from different interpretations of German and European law.

The company does not expect a significant financial impact in connection with the investigation, as stated by Adidas.

(Reporting by Maria Martinez and Alexander Huebner in Berlin, and Urvi Dugar; Editing by Shreya Biswas and Rod Nickel)