Authentic Brands and ALDO Group completed the acquisition of Sperry from Wolverine World Wide.

Authentic Brands, an American brand management company, and ALDO Group, a Canadian multinational corporation, completed the acquisition of Sperry, an American shoe brand, from Wolverine World Wide, a publicly traded American footwear manufacturer. Financial terms were not disclosed. “The sale of the Sperry brand is the next step in our turnaround and strategic transformation. We conducted a rigorous process that considered a comprehensive set of strategic alternatives for the brand, and we believe this is the best outcome for the Company and our vision for the future,” Chris Hufnagel, Wolverine Worldwide President and CEO.