WOLVERINE WORLD WIDE EXECUTES LETTER OF INTENT
TO SELL BROOKS ATHLETIC SHOE BUSINESS
ROCKFORD,
Real Cheap Shoes Nike Free Hot Punch, Mich., Sept. 25 /PRNewswire/ Wolverine World Wide, Inc. (NYSE: WWW) today announced that it has signed a letter of intent to sell its Brooks athletic shoe business to the sporting goods division of the Seattle based Rokke Group, an American Norwegian industrial group. $60 million.
"The sale of the Brooks athletic shoe business will enable Wolverine to concentrate on its core Hush Puppies and Wolverine business,
Order Womens Shoes Nike Free Run Hot Pink," said Thomas D. Gleason, Wolverine World Wide chairman and CEO. "The contemplated sale is to a company familiar with Brooks’ products and the global potential for this brand. One of the Rokke Group’s companies is presently a distributor of Brooks shoes in Norway. We believe the Rokke Group is well situated to capitalize on the recent expansion of the international Brooks marketing effort to more than 50 countries."
The closing of the transaction is subject to a number of conditions,
Hot Sale Nike Tiffany, including an acceptable due diligence investigation by the buyer,
Buy Now And Enjoy The Best Service Free Hot Pink, and the negotiation and execution of a definitive agreement. The final purchase price will be based in part on the closing date level of the assets associated with the Brooks business and upon an audited closing balance sheet.
As a part of the transaction, Wolverine has an option to sell its wholly owned Brooks operations in the United Kingdom, France and Germany to the Rokke Group.
"While we expect the sale,
Sale Cheap Nike Free Run 5.0 v2 Turquoise, including sale of the UK,
Free Shipping Worldwide Free Hot Punch, French and German operations, will result in a charge to Wolverine’s earnings in the third quarter,
Shop The Latest Nike Roshe Color Verde, the transaction will provide positive cash flow which the company will use to pay down debt," said Gleason.
The Brooks athletic shoe heritage traces back to 1914 and is today viewed as a premier running brand with a strong record of technical innovation. Brooks’ technological breakthroughs that have become industry standards include EVA midsole cushioning material, reflective strips, and the diagonal rollbar. Recent patented innovations include the HydroFlow cushioning system that absorbs shock in a superior manner and the Propulsion Plate System(R) that features a carbon fiber plate to add stability and "spring" to Brooks shoes.
The sporting goods division of the Rokke Group includes the largest sporting goods company in Norway, founded in 1901,
Store Online AuthenticShoes Nike Tiffany Blue, as well as international leisure and athletic clothes manufacturing and shoe distribution. The American Norwegian Rokke Group also includes major companies in the shipbuilding, furniture and fisheries industries. $600 million.
"The acquisition of Brooks reflects our long term commitment to the international sporting goods industry," said Johnny Austad,
Factory Outlet Online Sale Nike Free Hot Punch, president of the Rokke Group’s sporting goods division.
The investment banking firm of Hayes Griffith,
Online Womens Running Shoes Nike Free Hot Punch, Chicago, and Orkla Finans International,
Store Online Cheap Nike Free Hot Punch Pink, Oslo,
100 AuthenticShoes Nike Free Run Hot Pink, have been retained to assist in the transaction.
Wolverine World Wide, Inc. manufactures and markets a wide variety of branded footwear and pigskin leather. In addition to Brooks,
AuthenticQuality Free Run Tiffany Blue, major branded products of the company include: Hush Puppies(R) shoes,
Low Price Nike Free 5.0 Black, Wolverine(R) work and sport footwear, Wolverine Wilderness(R) footgear,
Buy AuthenticWomens Shoes Nike Free Hot Punch Pink, apparel and accessories, Coleman(R) footgear,
We Provide You With Low-Cost And High-Quality Nike Free Hot Punch, Harbor Town by Hush Puppies(R) footwear,
How Can i Buy Nike Free Run Hot Punch, Bates(R) uniform footwear and Bates Floaters(R),
Order Nike Free Run Tiffany Blue, Tru Stitch(R) slippers,
Buy Mens Shoes Nike Free Run Hot Pink, Sioux Mox(R) moccasins,
Order Authentic Nike Free Tiffany Blue, Wimzees(R) casual footwear, Town Country(R) women’s shoes, Kroupana sueded pigskin and Breathin’ Brushed Pigskin(R) leather.
Adohr Milk Cream is a US-based company famous for its gorgeous cows with their glamorous digs! Raised near Hollywood, CA…the movie capital of the World…our beautiful bovine are pampered like the stars they are. Our philosophy is “Star-quality cows make star-quality milk�. Our premier line of milk powder baby formulas are nutritionally complete for your rising star.
In the tradition of Old Hollywood, our wholesome, nutritious and delicious newborn, infant and toddler formulas start with milk from A-List cows. The cast of nutritionists and scientists at Adohr Milk Cream have spent years researching and developing the best combination of ingredients to provide optimal nutrition.
At Adohr Milk Cream, we believe your child is the star of your life…from pregnancy through toddlerhood and beyond. Our milk powders provide 100% of the recommended daily supply of vitamins and minerals that are essential for strong teeth and bones, good skin and hair, and a healthy brain. Everything a little star needs to grow.
Since our company was founded, every product we manufacture is done so with traditional values in mind. Our old-fashioned milk powders are made in America and are FDA-approved following strict guidelines and manufacturing processes.