As Sports Executive Weekly was going to press late Friday, LaCrosse Footwear announced it had entered into a definitive agreement to purchase certain assets of Environmentally Neutral Design Outdoor, Inc., or END Footwear. END only began shipping product in late 2008, but LaCrosse said it has gained a considerable amount of traction, with several hundred specialty retailers already selling the product. Once the acquisition is completed, the new LFI subsidiary will continue to sell footwear under the END brand name and will continue operations from ENDs Portland, OR location. Andrew Estey, current CEO of END, and key employees will move to the new subsidiary. LaCrosse Footwear intends to invest in increased marketing efforts and to leverage its capabilities in IT, sourcing, quality, logistics and its international reach to help grow the END brand. The acquisition of ENDs assets is expected to allow LaCrosse to compete in new channels and product categories.
LaCrosse Footwear Acquires END Footwear in $500,000 Deal
Subject to customary closing conditions, LFI will acquire substantially all the assets comprising ENDs footwear business, including inventory, intellectual property, and other assets. The purchase price is expected to be approximately $500,000 and the transaction is expected to be completed by the end of May.