Harris Williams & Co. Advises Wolverine Worldwide, Inc. on a Licensing Agreement for Stride Rite
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 a new licensing agreement for its Stride Rite brand with Vida Shoes International (Vida). Wolverine Worldwide is one of the world’s leading marketers of branded footwear and apparel and the new licensing agreement for Stride Rite is part of the company’s ongoing strategic transformation initiative. Harris Williams & Co. 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.
“We are extremely pleased to have worked with Wolverine Worldwide to establish this partnership with Vida. Vida’s proven success with branded children’s footwear makes them a great long-term partner for the Stride Rite brand. This agreement represents the second transaction we have completed for Wolverine Worldwide and is indicative of our strong momentum in the footwear and apparel sector,” said Corey Benjamin, a director at Harris Williams & Co.
“Stride Rite is an iconic brand in children’s footwear,” said Brent Spiller, a managing director at Harris Williams & Co. “This transaction extends our deep track record of representing leading brands in the attractive infant and juvenile industry.”
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®, Sebago®, 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.
Steeped in nearly 100 years in children's footwear, Stride Rite combines heritage and knowledge, with a modern-day understanding of kids' every day adventures. Stride Rite prides itself on making high quality footwear, building strong consumer relationships and providing parents with the tools they need to find the best fitting shoe for their child. Powered by a team of dedicated kid experts, who are also devoted parents, Stride Rite is truly Built for Childhood™. Stride Rite is part of the Lifestyle Group within Wolverine Worldwide.
Since 1973, Vida has been committed to becoming a global leader in designing, producing and marketing quality branded footwear. Vida has made a business of building strong footwear divisions from well-known apparel names. The company’s current portfolio of licenses includes brands known for trend-setting, innovation and superior quality such as Carter’s, OshKosh B’Gosh, Hanna Andersson, Jambu, Andre Assous, Nanette Lepore, Espirit, XOXO, Kensie and Unionbay. Vida’s brands are sold in a wide range of retailers, ranging from mainstream department stores to specialty boutiques.
Harris Williams & Co. (www.harriswilliams.com), a member 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.