Wolverine Worldwide buys Performance & Lifestyle Group brands
by Jeni Bone on 6 May 2012
US footwear giants, Wolverine Worldwide, owners of Sebago, have announced effective 1 May one of their largest acquisitions to date: Wolverine Worldwide has purchased Collective Brands’ Performance and Lifestyle Group (PLG) consisting of Sperry Top-Sider, Saucony, Stride Rite and Keds.
Sebago - authentic deck shoes since the 1940s - owned by Wolverine Worldwide along with Sperry and other lifestyle brands. ..
This adds to Wolverine’s existing portfolio of Sebago, Merrell, Hush Puppies, Wolverine, and Caterpillar Footwear.
Wolverine has a good track record of successfully integrating brands. As well as creating a $2.5 billion global footwear and lifestyle empire, this transaction also brings established marine names Sebago and Sperry Top-Sider into the same powerful stable of iconic brands.
A Wolverine Worldwide spokesman said today 'The acquisition combines another four powerful global brands into a proven international platform.
'This latest Wolverine acquisition provides a dynamic portfolio extension and diversification opportunity. It will add to the overall horsepower of the group and open up new cross continent working relationships.
'This is a very positive statement for Wolverine Worldwide demonstrating a clear confidence in growth. With a net result of leading brands balanced across product categories, genders and target consumers there are enormous opportunities for domestic and international expansion.'
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