Weyco Group, Inc. Acquires The Combs Company for $29.4M

Weyco Group, Inc.

announced today that it has acquired 100% of the outstanding shares of The Combs Company, the owner of the BOGS and Rafters footwear brands. The purchase price was $29.4 million in cash at closing, plus assumed debt of approximately $3.5 million and contingent payments after two and five years, which are dependent on Bogs achieving certain performance measures. The transaction was funded with available cash and borrowings under the Company's revolving line of credit.