Vulcabras, one of Brazil's largest manufacturers of vulcanised footwear and part of the Grendene Group, has acquired 15.06% of the total capital of Calçados Azaléia, giving Vulcabras control of 22.67% of Azaléia's preferential shares. The company now plans to take full control of Azaléia in the near future which, if it comes to fruition, would make Vulcabras one of the largest footwear companies in Brazil

The acquisition would prove greatly beneficial for Vulcabras as it would not only free the company from its almost total dependence on Reebok, whose production licence expires in 2012, it would also put well known brands such as Olympikus trainers, Azaléia's ladies' shoe brands Dijean and A/Z, children's shoe brand Funny and Opanka flip-flops under its control.