Crocs to Acquire Casual Footwear Brand Heydude for USD 2.5bn.

MANews-(C)2009-2021

Colorado, US-based casual footwear company Crocs, Inc. (NASDAQ: CROX) has agreed to acquire Los Angeles-based casual footwear brand Heydude for USD 2.5bn, the company said.

The purchase price of USD 2.5bn will be funded by USD 2.05bn in cash and USD 450m in Crocs shares issued to Heydude CEO and founder Rosano. Crocs expects to enter into a USD 2.0bn Term Loan B Facility and borrow USD 50m under the company's existing Senior Revolving Credit Facility to fund the cash consideration.

Upon completion of the transaction, Heydude will operate as a standalone division.

Alessandro Rosano, founder of Heydude...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT