Weyco acquires forsake brand

Milwaukee, june 07, 2021 (globe newswire) -- weyco group, inc. (nasdaq: weys) (the “company”) today announced that it acquired substantially all of the operating assets and certain liabilities of forsake, inc. (“forsake”), a distributor of outdoor footwear. the principal assets acquired were inventory, accounts receivable, and intellectual property, including the forsake brand name. the aggregate purchase price was approximately $2.5 million, plus contingent payments paid annually over a period of five years, depending on forsake achieving certain performance measures. at the acquisition date, the company's preliminary estimate of the discounted fair value of the contingent payments is approximately $1.75 million in total. the transaction was funded with the company's available cash.
WEYS Ratings Summary
WEYS Quant Ranking