Berkshire, New Balance Set to Buy Rockport from Adidas
January 26, 2015
Berkshire Partners, alongside New Balance and other investors, has entered into an agreement to purchase The Rockport Company from adidas. As per transaction details, NB affiliate Drydock Footwear will join with Rockport to form The Rockport Group. Founded in 1971, Rockport distributes footwear to more than 50 markets worldwide. Expected to close later this year, the transaction is for a total consideration of $280 million, most of which will be paid in cash with the remainder comprised of notes.