New Balance Acquires Wolverine Worldwide’s US Leather Division — Retail Bum
<p>Wolverine Worldwide has announced the sale of its U.S. Wolverine Leathers division to New Balance in a deal valued at approximately $6 million.</p>
<p>In an official <a href="https://www.businesswire.com/news/home/20230831158720/en" rel="noopener ugc nofollow" target="_blank">announcement</a>, Wolverine Worldwide highlighted New Balance’s long-standing loyalty as a customer and confirmed the transfer of all of Wolverine’s U.S. tannery agreements to New Balance.</p>
<p>Additionally, the company intends to “explore alternatives” for its non-U.S. leather business. In December 2022, Wolverine Worldwide announced its plans to license or divest the Wolverine Leathers and Keds businesses. Subsequently, in February 2023, the company successfully sold Keds to Designer Brands.</p>
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