Collective Brands sold

Business
May 1, 2012
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Collective Brands, a footwear company that operates a distribution center in Brookville, will soon have new owners, the company announced Tuesday.

Wolverine Worldwide and the private equity firms Blum Capital Partners and Golden Gate Capital have agreed to acquire Collective in a deal valued at $2 billion including debt.

Wolverine will acquire Collective’s Performance and Lifestyle Group, which manages such brands as Keds, Sperry Top-Sider and Stride. Blum Capital and Golden Gate will acquire Payless ShoeSource and Collective Licensing.

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