Wolverine Worldwide Will Complete Purchase of Collective Brands

Wolverine Worldwide

announced that today it will complete the previously announced acquisition of Collective Brands' Performance + Lifestyle Group ("PLG"), which consists of the Sperry Top-Sider^®, Saucony^®, Stride Rite^® and Keds^® brands, for a total purchase price of approximately $1.24 billion.  Adding these exciting brands to an existing portfolio that is led by Merrell, Hush Puppies, Wolverine, Sebago and Caterpillar Footwear creates an even more powerful collection of lifestyle brands that positions the Company for accelerated growth in both revenue and profits.