American footwear company The Stride Rite Corporation has acquired Canada-based soft-soled leather footwear for babies and young children Robeez Footwear Ltd. for a purchase price of $27.5 million (C$30.5 million) in cash.

Robeez shoes and booties are available in a wide range of designs and the company is expected to generate annual net sales of approximately $27 million (C$30 million) for the fiscal year ending August 31.

Stride Rite financed the transaction with a combination of cash on hand and existing credit facilities.