Japanese firm to acquire LaCrosse Footwear
Japanese athletic, business and casual footwear company ABC-Mart has entered into a definitive agreement with LaCrosse Footwear for approximately $138 million. The transaction is expected to close during the third quarter.
Minoru Noguchi, president of ABC-Mart, said: "This transaction will bring together the complementary strengths of ABC-Mart's extensive knowledge in the footwear retail industry with LaCrosse Footwear's high quality footwear manufacturing craftsmanship.
"In particular, the combined entity will be
well-positioned to strengthen LaCrosse Footwear's lifestyle and casual footwear
business by jointly developing and producing footwear with competitive quality,
pricing, and design, and drive the geographic expansion of LaCrosse and Danner
branded footwear, particularly in Japan, South Korea, Taiwan, Hong Kong, and
the rest of Asia, as well as in Europe."
