World Footwear

Companies

Weyco acquires Forsake brand

Jun 11, 2021 United States
Weyco acquires Forsake brand
The Milwaukee-based company announced that it acquired substantially all of the operating assets and certain liabilities of Forsake, a distributor of outdoor footwear
The aggregate purchase price was approximately 2.5 million US dollars, plus contingent payments paid annually over a period of five years, depending on Forsake achieving certain performance measures.

“We are excited to add a new outdoor footwear brand to our portfolio here at Weyco,” stated Thomas W. Florsheim, Jr., the Company’s Chairman and CEO. “The acquisition of Forsake is a great strategic fit for Weyco as we continue to build our presence in the outdoor footwear market around the globe.”

Forsake will join BOGS in forming Weyco Group’s outdoor division, headquartered in Portland, Oregon. Specializing in modern outdoor footwear, Forsake serves a "quickly growing segment of the market that isn’t directly served by an existing Weyco brand".

Forsake’s co-founders, Jake Anderson and Sam Barstow, have joined the Weyco team and will continue to lead the Forsake business going forward: “We are pleased to join the Weyco family and believe its infrastructure, including its design, sourcing, distribution, and e-commerce capabilities, will accelerate our business to new heights,” stated Jake Anderson, co-founder of Forsake.

About Weyco Group

Weyco Group, Inc., designs and markets innovative footwear principally for men, but also for women and children, under a portfolio of brand names including: Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters. The Company’s products can be found in footwear department, and specialty stores, as well as on e-commerce websites worldwide. Weyco Group also operates Florsheim stores in the United States and Australia, as well as in a variety of international markets.

About Forsake

Forsake, Inc. is a player known for the sneakerboot category. Forsake products are sold in outdoor specialty stores as well as on e-commerce websites throughout North America.

Image credits: Chris Liverani on Unsplash

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