Reportedly, Honeywell (HON) has entered an agreement with a leading manufacturer of premium footwear and apparel, Rocky Brands to sell its performance and lifestyle footwear business for approximately $230 million, expected to close end of the first quarter of 2021. As per the agreement, Honeywell will divest five brands that are non-core to its business including XTRATUF fishing boots and deck shoes, The Original Muck Boot Company, Ranger, Servus protective rubber boots, and NEOS overshoes. The company will continue to manufacture industrial safety footwear for workers under brands such as Honeywell Bacou, Oliver, MTS, and others.
“These are well-respected brands beloved by professionals and outdoor enthusiasts for work and play, and we’re proud of our team that has grown this business in recent years,” , “We’re excited for them to join Rocky Brands, who will continue to accelerate growth by leveraging its significant industry knowledge and expertise.” stated John Waldron, president and CEO, Honeywell Safety and Productivity Solutions.
Rocky Brands, Inc. is a leader in manufacturing and marketer of high-quality footwear and apparel marketed under well-recognized brand names including Georgia Boot®, Rocky®, Lehigh®, Durango®, and the licensed brand Michelin®.
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