Baker McKenzie, working alongside Honigman LLP, advised Wolverine Worldwide on the acquisition of Sweaty Betty, assisted by Pinsent Masons.
Wolverine Worldwide executed the acquisition of Sweaty Betty, a global fitness and lifestyle brand. The all-cash transaction is valued at approximately $410 million.
The acquisition of Sweaty Betty will complement Wolverine Worldwide’s strategic shift over the last several years from a traditional footwear wholesaler into a consumer-obsessed, digital-focused growth company. It will also give the organisation a leadership position in the growing women’s active wear category,
Founded in 1883, Wolverine Worldwide, Inc. is one of the world’s leading marketers and licensors of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel.
In 1998, Tamara and Simon founded Sweaty Betty with a focus on pioneering the women’s premium activewear category in the UK and since that time have successfully created a worldwide brand designed by women for women. In 2015, L Catterton, the largest global consumer-focused private equity firm (who also sold its stake as part of the transaction), partnered with Sweaty Betty to accelerate its growth across channels and geographies, successfully establishing them as a global brand with omni-channel presence across three continents.
The Baker McKenzie team was led by partners Alexander Fischer (Picture) in Zurich and Phelim O’Doherty in London, James Adams (senior associate) and Grace Blackburn (associate) in the London Corporate practice.
The Honigman LLP team was led by Tracy Larsen, Rob Kiburz and Andy Newton.
The Pinsent Masons’ cross-practice team was led by head of retail and consumer Tom Leman and wellbeing lead Samantha Lewis, with significant support from intellectual property experts by George Campbell and Florian Traub, head of information law Claire Edwards and property associate Mark Passant.
Involved fees earner: James Adams – Baker McKenzie; Grace Blackburn – Baker McKenzie; Alexander Fischer – Baker McKenzie; Phelim O’Doherty – Baker McKenzie; Robert Kiburz – Honigman LLP; Tracy Larsen – Honigman LLP; Andrew Newton – Honigman LLP; George Campbell – Pinsent Masons; Claire Edwards – Pinsent Masons; Tom Leman – Pinsent Masons; Samantha Lewis – Pinsent Masons; Mark Passant – Pinsent Masons; Florian Traub – Pinsent Masons;