Shoes from the Wolverine portfolio
11 Oct. 2012
WOLVERINE WORLDWIDE ACQUIRES COLLECTIVE BRANDS' PLG
Wolverine Worldwide has completed the previously announced 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 $1.24 billion. Adding these brands to an existing portfolio that is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear shall create an even more powerful collection of lifestyle brands that positions the company for accelerated growth in both revenue and profits.
With more than $1.0 billion of revenue and almost 40 million pairs shipped in its fiscal 2011, PLG will become the Wolverine Worldwide’s largest operating group, with PLG headquarters remaining in Lexington, Massachusetts.
"Today marks a transformational event for our company," said Blake W. Krueger, Wolverine Worldwide Chairman and CEO. "We couldn't be more excited about the tremendous growth potential that these four well-established and iconic brands bring to our proven global platform. Our new 16-brand portfolio – well-diversified across product categories and consumer segments – contains some of the worlds best-loved and most highly recognized brands, all of which are strongly positioned for domestic and international growth.”
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