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Wolverine World Wide has announced that it has acquired UK retailer Sweaty Betty in an all-cash transaction valued at approximately $410m (£295m).
Founded in 1998 in Notting Hill, Sweaty Betty offers a wide array of tops, bottoms, swimwear, outerwear, and accessories.
Julia Straus, CEO, Sweaty Betty, said: “From the moment I met the team at Wolverine Worldwide, I knew they were the right partner to support us in the next chapter of Sweaty Betty.
“Their portfolio of purpose-driven heritage brands, knowledge and expertise in building performance brands, robust international distribution, and supply chain expertise provides a strong platform to expand Sweaty Betty and further our mission to empower more women through fitness all over the world.”
Blake W. Krueger, chairman and CEO, Wolverine, added: “The acquisition of Sweaty Betty complements our strategic shift over the last several years from a traditional footwear wholesaler into a consumer-obsessed, digital-focused growth company.
“It also gives us a leadership position in the growing women’s activewear category.”
