US: RG Barry snaps up Foot Petals
Accessory footwear and slipper marketer RG Barry Corporation has completed the US$14m purchase of premium insoles company Foot Petals.
RG Barry will operate Foot Petals as a subsidiary, a statement said.
"As the innovator and leader of premium insoles, Foot Petals is an excellent addition to our brand portfolio," said RG Barry Corporation president and CEO Greg Tunney.
"It is a growing business that generates very healthy returns. Its management team, led by Tina Aldatz, is young, aggressive and has done an amazing job building a successful, category-leading business in less than a decade.
"Our product lines, customer bases and core values have numerous synergies. For example, Foot Petals' products are now sold through key top-tier retailers like Nordstrom and Dillard's. The brand has a very bright future as an integral part of our long-range vision and strategic growth plan."
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