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Slide #29. Wolverine Worldwide — Collective Brands' Performance & Lifestyle Group
Wolverine Worldwide (NYSE:WWW)
Collective Brands' Performance & Lifestyle Group
Wolverine Worldwide announced that it will complete the previously announced acquisition of Collective Brands' Performance + Lifestyle Group ("PLG"), which consists of the Sperry Top-Sider, Saucony, Stride Rite and Keds brands, for a total purchase price of approximately $1.24 billion. Adding these exciting brands to an existing portfolio that is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear creates an even more powerful collection of lifestyle brands that positions the Company for accelerated growth in both revenue and profits. With more than $1.0 billion of revenue and almost 40 million pairs shipped in its fiscal 2011, PLG will become the Company's largest operating group, joining the Company's existing Outdoor Group (Merrell, Chaco and Patagonia Footwear), Heritage Group (Wolverine, CAT Footwear, Harley-Davidson Footwear, Bates and HyTest) and Lifestyle Group (Hush Puppies, Sebago, Cushe and Soft Style). PLG will remain headquartered in Lexington, Massachusetts.
Wolverine World Wide is a designer, marketer and licensor of a range of casual footwear and apparel, performance outdoor and athletic footwear and apparel, kids' footwear, industrial work boots and apparel, and uniform shoes and boots. Co. has two segments: Wolverine Michigan Group, consisting of Merrell® footwear and apparel, Cat® footwear, Wolverine® footwear and apparel, Chaco® footwear, Hush Puppies® footwear and apparel, Bates® uniform footwear, Harley-Davidson® footwear and Hytest® safety footwear; and Wolverine Boston Group, consisting of Sperry® footwear and apparel, Saucony® footwear and apparel, Keds® footwear and the Kids footwear business.
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