Vulcabras Azaleia has agreed to take over the Mizuno license for Brazil from Alpargatas. The deal ends Alpargatas’ 23-year partnership with the Japanese company.

Vulcabras, owner of Olympikus brand and the Under Armour license for Brazil, will pay Brazilian Real $32.5 million to Alpargatas, the owner of Havaianas,

Vulcabras will be responsible for the licensing, distribution and marketing of Mizuno products, including footwear, apparel and accessories.

“We acquired Mizuno’s robust operation in Brazil to further expand our relevance in the sporting goods segment. We will make available to our brands Mizuno, Under Armor and Olympikus the largest Development and Technology Center in Latin America and a modern factory, capable of producing any shoe in the world ”, said Pedro Bartelle, Vulcabras executive, in a statement.

Photo courtesy Mizuno