Wolverine Worldwide announced that it, along with Blum Capital Partners and Golden Gate Capital, has signed a definitive agreement to acquire Collective Brands. As part of the transaction, Wolverine will acquire Collective Brands’ Performance + Lifestyle Group, which consists of the Sperry Top-Sider, Saucony, Stride Rite and Keds brands. Adding these businesses to Wolverine's existing portfolio, which is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear, creates an even more powerful stable of lifestyle brands that positions the company for accelerated growth in both revenue and profits.
Blake W. Krueger
As the second part of a business collaboration, Wolverine Worldwide is purchasing a 49 percent stake in Forus' existing Colombian business, Forus SA Colombia, which currently has the rights to Wolverine's Hush Puppies and Cushe brands in Colombia. Forus SA Colombia currently owns and operates 23 retail locations and sells directly to Colombia's most important department stores and specialty footwear retailers.
_ ROCKFORD, Mich., Jan. 30, 2012 /PRNewswire/ -- Wolverine Worldwide Highlights for the year: "Our portfolio of strong, global lifestyle brands combined to deliver another year of record performance," said Blake W. Krueger, the Company's Chairman and Chief Executive Officer. "Each of our three branded operating groups and our direct-to-consumer business contributed to the year's outstanding results. Additionally, all major international regions reported double-digit revenue growth, as our newly created International Group focused on the significant opportunities outside of North America. Our distributor and licensee business, which markets our brands in nearly 190 countries, also had an exceptional year,
/PRNewswire/ -- Wolverine Worldwide is pleased to announce the appointment of Nicholas T. Long to the Company's Board of Directors. Long, age 52, is the Chief Executive Officer of MillerCoors, a leading beverage company that is a joint venture between SABMiller and Molson Coors. MillerCoors is the marketer of such well-known brands as Miller Lite, Coors Light, Leinenkugel's and Blue Moon. Prior to joining MillerCoors, he was Chief Marketing Officer of the Miller Brewing Company and later promoted to President and Chief Executive Officer. Mr. Long also spent a number of years with The Coca-Cola Company where he served