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Wolverine buys Payless
02.05.2012 2160

Wolverine buys Payless

Wolverine Worldwide Inc. (WWW), the owner of the shoe brands Merrell and Hush Puppies, said on Tuesday that it is partnering with Blum Capital Partners and Golden Gate Capital to buy the owner of Payless Collective Brands Inc., a shoe store chain. (PSS) for 21,75 $ per share. The total transaction value is approximately $ 2 billion, including a valuation of debts. After closing the deal, Wolverine will buy the Collective division, which owns brands including Keds, Saucony and Stride Rite. Investment firms will jointly acquire the ShoeSource Payless network and Collective Licensing International, ffin.ru reports.

Wolverine Worldwide Inc. (WWW), which owns footwear brands Merrell and Hush Puppies, announced on Tuesday that it is acquiring the chain owner in partnership with Blum Capital Partners and Golden Gate Capital ...
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