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In Brief: Nike In Sale-Leaseback Plan… McCreight Appointment

Nike Inc. is partnering with real estate firm CB Richard Ellis in a sale-leaseback of its Cole Haan and Nike Bauer facilities in Yarmouth, Maine, and Greenland, N.H.

NIKE IN SALE-LEASEBACK PLAN: Nike Inc. is partnering with real estate firm CB Richard Ellis in a sale-leaseback of its Cole Haan and Nike Bauer facilities in Yarmouth, Maine, and Greenland, N.H. According to an internal statement from James Seuss, president and chief executive officer of Cole Haan, and Mark Duggan, president and ceo of Nike Bauer Hockey, the financial transaction would take physical assets off the balance sheet and convert them to cash, allowing further investment in core businesses. The companies will lease rather than own the properties going forward, akin to what the company does with its New York offices. There have been talks about the initiative for two years.

MCCREIGHT APPOINTMENT: Barney Kelley has joined global management consulting firm McCreight & Co. as an associate partner. Kelley has founded three international trade companies and has more than 25 years of experience. He has expertise working in Asia, having established offices for domestic clients in Seoul; Jakarta, Indonesia; Shanghai; Hong Kong, and Delhi. He also has experience in the Middle East, Eastern Europe and Central America.

This story first appeared in the October 19, 2007 issue of WWD.  Subscribe Today.