The office building “Arena” of the headquarters of sporting goods manufacturer Adidas AG is reflected in an artificial lake.
Daniel Karmann | Photo Alliance | Getty Images
Adidas's German headquarters were raided on Tuesday in connection with a years-long tax investigation, the company confirmed to CNBC in a statement.
Authorities are investigating customs and tax regulations for products imported into Germany over a period of about five years, from October 2019 to August this year, a spokesperson said.
Offices at the company's headquarters in Herzogenaurach, along with other locations, were searched. Adidas says it has provided investigators with relevant documents and information and has previously been in contact with customs authorities over the matter in recent years.
“The company does not anticipate any significant financial impact related to the investigation,” Adidas said in the statement.
The company said it “continues to work closely with customs authorities to also clarify issues arising from different interpretations of German and European law.”
The tax investigation is the latest scandal to hit the sneaker maker following its disastrous split with Ye, the rapper formerly known as Kanye West, over anti-Semitic comments he made.
No additional details about the tax investigation were immediately known. Shares rose slightly in extended trading.
