Wolverine World Wide uses revolver borrowings for Sweaty Betty buy

By Sara Rosenberg

New York, Aug. 3 – Wolverine World Wide Inc. used its revolving credit facility and cash on hand to fund the roughly $410 million acquisition of Sweaty Betty from L Catterton and other shareholders, according to a company presentation.

Post-acquisition year-end net leverage is expected to be less than 2.2x.

Wolverine World Wide is a Rockford, Mich.-based marketer and licensor of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. Sweaty Betty is a British activewear and lifestyle brand.

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