US company Rocky Brands recently announced it will acquire the performance and lifestyle footwear business of Honeywell International, including The Original Muck Boot Company, which pioneered the quality rubber and neoprene boot category, and XTRATUF footwear brands, a leading outfitter in the commercial fishing segment, for $230 million.
XTRATUF has provided Alaskan fishermen with comfortable and reliable footwear in wet conditions for nearly 60 years.US company Rocky Brands recently announced it will acquire the performance and lifestyle footwear business of Honeywell International, including The Original Muck Boot Company, which pioneered the quality rubber and neoprene boot category, and XTRATUF footwear brands, a leading outfitter in the commercial fishing segment, for $230 million.#
Rocky Brands is a designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names, including Rocky, Georgia Boot, Durango, Lehigh and the licensed brand Michelin.
Other brands in the portfolio are Servus, a brand known for high-quality, accessible PVC footwear made for wet working conditions, NEOS, known for overshoes with extreme traction, and Ranger, whose boots are built for cold and wet weather and providing exceptional comfort and function at a value price, according to a press release from Rocky Brands.
The purchase price is being funded with an $80-million senior secured asset-backed credit facility with Bank of America, a $130 million senior secured term loan facility with The Direct Lending Group of TCW Asset Management Company, and cash on hand.
Fibre2Fashion News Desk (DS)
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