The “Arena” office building at the headquarters of sporting goods manufacturer Adidas AG is reflected in the artificial lake.
Daniel Kaman | Picture Alliance | Getty Images
adidas The company confirmed to CNBC in a statement that its German headquarters was raided on Tuesday as part of a years-long tax investigation.
A spokesman said authorities were investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August this year.
Offices at the company’s headquarters in Aurach, Herzogen, and other locations were searched. Adidas said it has provided relevant documents and information to investigators and has been in contact with customs authorities regarding the matter over the past few years.
“The company does not anticipate any significant financial impact from the investigation,” Adidas said in a statement.
The company said it “will continue to work closely with customs authorities to clarify issues arising from different interpretations of German and European laws.”
The tax probe is the latest scandal to hit the sneaker maker, following its disastrous breakup with rapper Ye (born Kanye West) over anti-Semitic comments.
Further details about the tax investigation were not immediately known. Shares edged higher in extended trading.
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