Rockport Co. LLC, a New England-based shoe business that emphasizes the comfort of its wares, has been snapped up in an M&A deal. Prominent sneaker maker New Balance Holding Inc. and Boston private equity firm Berkshire Partners LLC teamed up to pay $280 million to Rockport’s owner, Adidas AG. The new owners will combine Rockport with New Balance’s Drydock Footwear LLC to create a new company, which will be called Rockport Group. According to The Deal’s correspondent Renee Cordes, Adidas’s recent actions call into question whether its Reebok sneaker business might be next on the auction block. The Deal’s Senior Reporter Lisa Allen has the details from New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
