Merrell, Saucony Parent Company Sells Shoe Brand Sperry

January 11, 2024

Wolverine Worldwide, parent company of Merrell, Saucony, Chaco, and other brands, announced it has sold boat-shoe brand Sperry to Authentic Brands Group and the Aldo Group.

The deal closed on Jan. 10, and is expected to generate about $130 million in the first quarter to pay down debt.

The announcement builds on the company’s previously announced turnaround actions that collectively generated nearly $250 million in cash in 2023, according to Wolverine. The Daily Outdoor Retailer