US: Collective Brands sale completes
Wolverine Worldwide, Golden Gate Capital and Blum Capital have completed the acquisition of US footwear company Collective Brands.
The deal, valued at US$2bn, will see Wolverine Worldwide acquire Collective Brands' Performance + Lifestyle Group, which includes the wholesale and retail operations of the Sperry Top-Sider, Sacuony, Stride Rite and Keds brands.
Golden Gate Capital and Blum Capital now jointly own the operations of Payless ShoeSource and Collective Licensing International, which will together operate as a standalone entity called Payless Holdings.
Effective today, Collective Brands' common stock will no longer be listed or traded on the stock exchange.
Footwear maker Wolverine Worldwide has swung to a fourth-quarter loss on the back of costs related to its acquisition of Collective Brands' Performance & Lifestyle Group last year....
Footwear chain Payless ShoeSource is laying off some 45 employees at its headquarters in Topeka and eliminating 97 open positions as part of ongoing restructuring efforts....
Footwear maker Wolverine Worldwide has today (8 January) outlined a number of organisational changes designed to help drive global growth following its acquisition of Collective Brands' Performance & ...
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