It’s a bit late in the season to buy a waterproof boots company, but Steve Madden has done it, according to a press release. Blondo, which has been around for more than a century, makes leather boots that are made for walking, despite the weather outside. Steve Madden, a leading fashion footwear brand, bought the intellectual property and related assets of Blondo, which are sold to wholesale customers in the U.S. and Canada. The company’s 12 month net sales as of late November were $25 million. The acquisition is expected to contribute 1 cent to EPS for the 2015 fiscal year.
Steve Madden CEO Edward Rosenfeld is happy about the deal and told Marketwatch, “We are pleased to complete the acquisition of Blondo, a brand known for footwear that marries fashion with function. Blondo adds authentic weather-resistant footwear collections that complement the Steve Madden portfolio. By leveraging our proven business model and established infrastructure, we believe there is significant opportunity to expand Blondo’s business globally.”