Alpargatas to acquire 49.9% stake in Rothy's for $475m.

Alpargatas, a Brazilian lifestyle brand, agreed to acquire 49.9% stake in Rothy's, an innovative sustainable lifestyle brand, for $475m. "We are excited to welcome Rothy's to our portfolio, and admire Rothy's entrepreneurial, passionate founders and team. We value their digital-first business and loyal customer base, and view this partnership as an important opportunity to advance our global strategy with increased relevance in the North American market. We are eager to work with Stephen, Roth and the entire Rothy's team to expand the brand's community all over the world through new retail and ecommerce channels," Roberto Funari, Alpargatas CEO.