Wolverine Worldwide completes US$1.24 billion acquisition of Collective Brands' Performance + Lifestyle Group
Date Closed
October 9, 2012
Lead Office
Toronto
Value
1.24 Billion USD
On October 9, 2012, Wolverine Worldwide completed the acquisition of Collective Brands' Performance + Lifestyle Group ("PLG"), which consists of the Sperry Top-Sider®, Saucony®, Stride Rite® and Keds® brands, for a total purchase price of approximately US$1.24 billion. Adding these exciting brands to an existing portfolio that is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear creates an even more powerful collection of lifestyle brands that positions the Company for accelerated growth in both revenue and profits.
Wolverine Worldwide, headquartered in Rockford, Michigan, is a marketer of branded casual, active lifestyle, work, outdoor sport and uniform footwear and apparel.
Collective Brands, headquartered in Kansas, is a holding company of three business units.
McCarthy Tétrault LLP acted as Canadian counsel to Wolverine Worldwide, as acquiror.