Wolverine World Wide divest Champion trademarks to Hanesbrands for $90M

• Wolverine World Wide (NYSE:WWW) said on Thursday that Keds, its wholly-owned subsidiary, has sold the Champion trademarks for footwear in the United States and Canada to its longtime licensee, HanesBrands (NYSE:HBI) for $90M in cash.
• The transaction includes a perpetual license for the company to continue using the trademarks on its Keds Champion footwear.
• The deal also successfully resolves outstanding litigation between the parties.

Comments

[alexalekhine]

Always good to clear out litigation. How much they will save in royalty payments is the remaining question.

[lappygums]

Not a fan of hbi buying anything with cash until it brings down debt.