Baker McKenzie: Wolverine Worldwide acquires Sweaty Betty
Baker McKenzie has advised Wolverine Worldwide, a global marketer of branded footwear, apparel and accessories, on its acquisition of Sweaty Betty, a global fitness and lifestyle brand. The all-cash transaction is valued at approximately $410 million and closed on August 2, 2021.
Founded in 1883, Wolverine Worldwide, is a marketer and licensor of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel.
The acquisition of Sweaty Betty will complement Wolverine Worldwide’s strategic shift over the last several years from a traditional footwear wholesaler into a consumer-obsessed, digital-focused growth company.
The Baker McKenzie team was led by partners Alexander Fischer (pictured) in Zurich and Phelim O’Doherty in London. Additional support was provided by James Adams (senior associate) and Grace Blackburn (associate) in the London corporate practice. Also involved in the deal were Honigman (led by Tracy Larsen with the team including Rob Kiburz and Andy Newton) who advised Wolverine Worldwide on the US and other strategic aspects of the transaction.
