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.'
If you want to link to this article then please use this URL: www.sail-world.com/96893