Genesco Inc. announced Thursday that it has closed the acquisition of the U.S. assets of New York-based Togast LLC, previously announced on December 18, 2019.
Togast is a company that specializes in the design, sourcing and sale of licensed footwear. The acquisition is expected to be accretive to Genesco’s fiscal 2021 earnings.
As planned, at closing, Genesco also entered into a new U.S. footwear license agreement for men, women and children for Levi’s, as well as renewed and extended its men’s Dockers footwear license. The Togast purchase expands Genesco’s portfolio to include footwear licenses for G.H. Bass & Co., ADIO and FUBU, among others.