4 Firms Usher Wolverine's $410M Deal For Sweaty Betty
By Charlie Innis (August 3, 2021, 3:04 PM EDT) -- Wolverine Worldwide said Tuesday it bought the British women's retailer Sweaty Betty in an all-cash deal valued at about $410 million and led by four law firms, as the footwear company looks to branch out.
Wolverine's purchase of the private equity-backed athletic clothing company fits alongside its goals to grow its digital presence and sell more brands beyond footwear, Brendan Hoffman, president of Wolverine Worldwide, said in a press release.
"We are excited to support the brand's continued growth while learning from its digital-first mindset and leveraging that strength across our portfolio," Hoffman said.
Michigan-headquartered Wolverine, which owns Keds and nearly...
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