Wolverine World Wide has sold its Sebago brand to BasicNet, an Italian corporation with a global footprint and a portfolio of brands including Kappa, Robe di Kappa, K-way and Superga.
“As an organisation, we have always been active portfolio managers, with a sharp focus on our highest-value opportunities. We have recently completed a strategic review of our existing portfolio and have been exploring a variety of alternatives for some of our smaller brands and businesses,” said Blake Krueger, chairman, CEO and president of Wolverine World Wide.
“We believe the decision to divest Sebago will allow us to focus on accelerating our most important opportunities while enhancing shareholder value.”
Wolverine World Wide is a marketer of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. Its brand portfolio includes Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Chaco, Bates and Soft Style. The company is also the global footwear licensee of popular brands including Cat and Harley-Davidson.
Sebago, founded in 1946, is based in Michigan, US where it produces a variety of higher-end boating shoes, outdoor shoes and dress shoes.