Rocky Shoes & Boots, Inc. announced that it has entered into a letter of intent to purchase certain assets, including finished goods and raw materials inventory, the registered mark GATES and other trademarks and intellectual property, and customer orders and relationships, associated with the glove business of Gates-Mills, Inc.
Gates-Mills, established in 1900, is a leading manufacturer and supplier of high quality performance gloves for the Outdoor Hunting, Active/Ski, Specialty, and Dress glove markets in the United States and Canada primarily marketed under the tradename GATES. Other terms of the transaction were not disclosed.
The transaction, which is subject to various closing conditions, including negotiation of a definitive agreement and approval of Rocky’s board of directors, is expected to close by April 15, 2003.
