ROCKPORT ACQUISITION COMPLETED
The final step in the $280 million sale of The Rockport Company has been taken.
Boston-based investment firm Berkshire Partners LLC and New Balance Holding, Inc. the investment arm of New Balance, announced yesterday that they have completed the purchase of Rockport from the Adidas Group. As a result of the acquisition, New Balance affiliate Drydock Footwear LLC, which is home to the Cobb Hill, Aravon and Dunham brands, will merge with The Rockport Company to form a new standalone entity, The Rockport Group. The new company will remain in the Boston area and is headed by CEO Bob Infantino. The Group will offer dress and casual footwear across its four brands: Rockport, Cobb Hill, Aravon and Dunham.
Footwear vet Infantino founded Drydock in May 2011 when he joined with New Balance to create an independent business with Cobb Hill, Aravon and Dunham.
Adidas acquired Rockport in 2005 as a result of its purchase of Reebok for $3.8 billion. It announced it was unloading Rockport, which was founded in 1972 and is known for its comfortable dress and casual shoes for men and women, in January 2015.
