USA: Deckers Completes $62m Teva Acquisition
Sports shoe maker Deckers Outdoor Corp on Tuesday completed a $62 million deal to acquire sport sandal brand Teva from creator Mark Thatcher in a move that will give it control of its leading licensed brand. The California-based company said it expects the transaction - first announced last month - to increase income in fiscal 2003 by about $1m. Teva footwear accounted for around two thirds of Deckers' total sales of $91.5m last year.