Rocky Brands buys performance footwear portfolio

27/01/2021

US shoe group Rocky Brands has bought the performance and lifestyle footwear business of Honeywell International for $230 million.

The portfolio includes The Original Muck Boot Company, which specialises in rubber and neoprene boots; XTRATUF, which provides footwear for Alaskan fishermen; Servus, known for its PVC footwear; NEOS, which sells overshoes with extreme traction; and Ranger boots, which are built for cold and wet weather.

The portfolio had revenues of around $205 million in 2020 and profits of $24.5 million.

Rocky Brands CEO Jason Brooks said: “We’re acquiring a well-run business with a corporate culture and a customer base similar to ours, which provides meaningful growth opportunities within our existing categories as well as an entrée into new market segments. Its innovative and authentic product collections complement our existing offering with minimal overlap, which will allow us to strengthen our wholesale relationships and serve a wider consumer audience. 

“We plan to leverage Rocky’s advanced fulfilment capabilities to improve distribution of the new brands to wholesale customers and accelerate direct-to-consumer penetration.”

Rocky Brands current portfolio includes Rocky, Georgia Boot, Durango, Lehigh and the licenced brand Michelin.