HERZOGENAURACH, Germany — Adidas says it's putting the CCM Hockey brand up for sale.

The German sports equipment and apparel giant made the announcement Wednesday as it reported its fourth-quarter and year-end results for 2016.

The company reported a 14.3 per cent decline in net sales for CCM Hockey last year compared to 2015, and a bigger drop of 21.6 per cent in the fourth quarter compared to the same period a year earlier.

Now headquartered in Montreal, CCM Hockey can trace its roots to its founding in September 1899 in Weston, Ont., as Canada Cycle & Motor Co. Ltd.

A veritable who's who of the NHL have geared up with CCM Hockey equipment, including Darryl Sittler, Mark Messier and Sidney Crosby.

In 2004, CCM Hockey was bought by Reebok, which was acquired by Adidas two years later.