M&A Deal Summary

Designer Brands Acquires Keds

On February 8, 2023, Designer Brands acquired apparel/textiles company Keds from Wolverine World Wide

Acquisition Highlights
  • This is Designer Brands’ 2nd transaction in the Apparel/Textiles sector.
  • This is Designer Brands’ 4th transaction in the United States.
  • This is Designer Brands’ 1st transaction in Michigan.

M&A Deal Summary
Date 2023-02-08
Target Keds
Sector Apparel/Textiles
Buyer(s) Designer Brands
Sellers(s) Wolverine World Wide
Deal Type Divestiture

Target

Keds

Rockford, Michigan, United States
Keds is a manufacturer of Keds canvas sneakers & leather shoes in a variety of styles, patterns & colors. Keds is based in Rockford, Michigan.

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Buyer(S) 1

Buyer

Designer Brands

Columbus, Ohio, United States
Category Company
Founded 1991
Sector Apparel/Textiles
Revenue 3.1B USD (2024)
DESCRIPTION

Designer Brands is a provider of branded footwear and accessories retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear and accessories for women, men and kids. Designer Brands was incorporated in 1991 and is headquartered in Columbus, Ohio.

DEAL STATS #
Overall 5 of 5
Sector (Apparel/Textiles) 2 of 2
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 4 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Topo Athletic

Framingham, Massachusetts, United States

Topo Athletic is a footwear brand that products encourage instinctive and natural movement to help deliver a better running and fitness experience. Topo Athletic was formed in 2012 and is based in Framingham, Massachusetts.

Buy -

Seller(S) 1

SELLER

Wolverine World Wide

Rockford, Michigan, United States
Category Company
Founded 1883
Sector Apparel/Textiles
Employees3,400
Revenue 2.2B USD (2023)
DESCRIPTION

Wolverine World Wide is a marketer of branded casual, active lifestyle, work, outdoor sport, athletic, children's and uniform footwear and apparel. Wolverine World Wide was founded in 1883 and is based in Rockford, Michigan.

DEAL STATS #
Overall 1 of 2
Sector (Apparel/Textiles) 1 of 2
Type (Divestiture) 1 of 2
State (Michigan) 1 of 2
Country (United States) 1 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Sweaty Betty

London, United Kingdom

Sweaty Betty is a provider of activewear brand whose purpose is to inspire women to find empowerment through fitness. Sweaty Betty was founded in 1998 and is based in London, United Kingdom.

Buy $410M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Sperry

Rockford, Michigan, United States

Sperry provides men, women, kids, or babies with a selection of hand-crafted footwear, based in Rockford, Michigan.

Sell -
Mergr

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