Shoe manufacturer Weyco Group Inc announced on Wednesday it has completed the acquisition of certain US assets of the Florsheim Group Inc.

The Wisconsin-based company said the acquisition included the US wholesale business and related assets and 23 retail stores. Cash proceeds were approximately $45.6 million, and are subject to post closing adjustments.

Weyco added it expects to complete the purchase of Florsheim's European operations in June 2002.