Harris Williams & Co. Advises Wolverine Worldwide, Inc. on the Sale of its Sebago Brand to The BasicNet Group
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that the firm advised Wolverine Worldwide, Inc. (Wolverine Worldwide; NYSE: WWW) on the sale of its Sebago brand to The BasicNet Group (BasicNet). Wolverine Worldwide is one of the world’s leading marketers of branded footwear and apparel and the sale of Sebago is part of the company’s ongoing strategic transformation initiative. Harris Williams & Co. also advised Wolverine Worldwide on a new licensing agreement for its Stride Rite brand with Vida Shoes International that was announced in June. The firm served as the exclusive advisor to Wolverine Worldwide. The transaction was led by Corey Benjamin, John Neuner and Brent Spiller of Harris Williams & Co.’s Consumer Group and Nick Owens and Juliann Rienecker of Harris Williams & Co.’s Richmond office.
“Sebago extends our track record of representing leading footwear and apparel brands and we look forward to many more successful transactions in the industry,” said Corey Benjamin, a director at Harris Williams & Co. “We are delighted to have found a global partner in BasicNet that will continue to capitalize on the brand’s strong heritage, both domestically and internationally.”
“We are pleased to have advised Wolverine Worldwide on yet another successful transaction with the sale of its Sebago brand,” said John Neuner, a managing director at Harris Williams & Co. “We look forward to watching the brand’s continued growth through its partnership with BasicNet.”
With a commitment to service and product excellence, Wolverine Worldwide is one of the world's leading marketers of branded casual, active lifestyle, work, outdoor sport, athletic, children's and uniform footwear and apparel. The company's portfolio of highly recognized brands includes Merrell®, Sperry®, Hush Puppies®, Saucony®, Wolverine®, Keds®, Stride Rite®, Chaco®, Bates®, HYTEST® and Soft Style®. The company is also the global footwear licensee of the popular brands CAT® and Harley-Davidson®. Wolverine Worldwide products are carried by leading retailers in the U.S. and globally in approximately 200 countries and territories.
Established in 1946, Sebago was born from a consumer demand for quality, casual footwear. Created from a sense of purpose, Sebago shares its New England heritage and tradition of craftsmanship with those who aspire to make the journey with them. From the Classic penny loafer to the Docksides® boat shoe, Sebago makes timeless, handcrafted dress and casual products using the finest materials. Sebago products can be found in 120 countries around the world.
BasicNet is a leading distributor and developer of branded leisurewear, sportswear, footwear and accessories. The company’s portfolio of brands includes Kappa®, Robe di Kappa®, Jesus® Jeans, K-Way®, Superga®, Lanzera®, Sabelt® and Briko®. Headquartered in Turin, Italy, BasicNet operates through a global network of independent licensees and engages in retail distribution through branded stores and outlets.
Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.