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Kappa owner seals deal for Sebago brand

Footwear group Wolverine Worldwide has announced it has completed the sale of its Sebago brand to BasicNet, an Italian group that owns sportswear manufacturer Kappa.

It gave no indication of the value of the deal.

The chairman and chief executive of Wolverine, Blake Krueger, said the sale came after a “strategic review” of the group’s brand portfolio. He added that the move is in line with Wolverine’s strategy of focusing on its “highest-value opportunities”. 

Wolverine said it is making “significant progress” in a planned strategic transformation. It expects the sale of Sebago to be an important part of its efforts to optimise the organisation.

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