Sperry Parent Company Acquires Sweaty Betty

Wolverine Worldwide (Rockford, Mich.) has acquired the fitness brand Sweaty Betty (London), according to a company press release.

Blake W. Krueger, Chairman and Chief Executive Officer, Wolverine, says, “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 … Wolverine Worldwide has a long and successful track record of acquiring and building brands, including performance brands like Sweaty Betty, and we are thrilled to welcome them to our company.”

The company acquired all shares the former parent company of Sweaty Betty, Lady of Leisure InvestCo Ltd., from L Catterton and other shareholders for roughly $410 million. Sweaty Betty was founded in 1998 and sells apparel like tops, swimwear, bottoms, outerwear and accessories.