Merrell, Saucony Parent Company Sells Shoe Brand Sperry
January 11, 2024
Wolverine Worldwide, parent company of Merrell, Saucony, Chaco, and other brands, announced it has sold boat-shoe brand Sperry to Authentic Brands Group and the Aldo Group.
The deal closed on Jan. 10, and is expected to generate about $130 million in the first quarter to pay down debt.
The announcement builds on the company’s previously announced turnaround actions that collectively generated nearly $250 million in cash in 2023, according to Wolverine. The Daily Outdoor Retailer
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