Wolverine World Wide, Inc. has acquired Colorado-based performance outdoor footwear brand Chaco. The acquisition also includes ULU, a premium brand of performance winter boots. Terms of the transaction were not disclosed.

Chaco was launched in 1989 to meet the needs of whitewater enthusiasts. It is recognised for its BioCentric footbed which offers adjustability, durability and unique performance characteristics. The brand had global revenue of more than $20 million in 2008, with the US market representing nearly 90 percent of global sales.

Chaco will become part of Wolverine's Outdoor Group, which also includes the Merrell and Patagonia Footwear brands and all Chaco employees will continue employment with the brand as the integration strategy is further developed and executed. Mark Paigen, Chaco's founder, will serve as a key resource and consultant to the business.