Wolverine Worldwide acquires Sweaty Betty for $410M - Grand Rapids Business Journal grbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from grbj.com Daily Mail and Mail on Sunday newspapers.
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Pic: Business Wire US-based Wolverine Worldwide, which operates a portfolio of footwear and lifestyle brands, has announced acquiring UK-headquartered global fitness and lifestyle brand Sweaty Betty. The latter’s chief executive officer (CEO) Julia Straus will continue to lead the brand and will report to Brendan Hoffman, president of the former. The all-cash transaction, valued at nearly $410 million, was concluded on August 2. Wolverine Worldwide acquired all shares of Lady of Leisure InvestCo Limited, the entity that owns the Sweaty Betty brand, from L Catterton and other shareholders. Wolverine Worldwide owns the following brands: Bates, Chaco, HyTest, Hush Puppies, Keds, Merrell, Saucony, Soft Style, Sperry, Stride Rite Children’s Group, Wolverine and Wolverine Leathers.
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