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WOLVERINE W worldwide . Wolverine Worldwide Acquires Women's Activewear Brand Sweaty Betty Exhibit 99.1 9341 Courtland Drive , Rockford , MI 49351 Phone ( 616 ) 866-5500 FOR IMMEDIATE RELEASE CONTACT : Layne Hebert Layne@Lividini.com Adds digitally - native , premium global apparel brand to the Company's portfolio , which is expected to fuel growth and enhance Wolverine Worldwide's fast - growing eCommerce business Expected to be accretive to earnings in year one Wolverine Worldwide to hold a conference call today , August 3 , 2021 , at 10:30 a.m. EDT ROCKFORD , Mich . , August 3 , 2021 - Wolverine World Wide , Inc. ( NYSE : WWW ) , which operates one of the world's largest portfolios of footwear and lifestyle brands , today announced that it has acquired Sweaty Betty® , a global fitness and lifestyle brand on a mission to empower women . The all - cash transaction is valued at approximately $ 410 million and closed on August 2 , 2021 . Founded in 1998 , Sweaty Betty has quickly grown to become a global brand designed by women for women . It has cultivated a loyal following through its purpose - driven mission and high quality products , including a wide array of innovative and on - trend tops , bottoms , swimwear , outerwear , and accessories . Distributed around the world , over eighty percent of the brand's revenue currently comes through direct - to- consumer channels , allowing deep connections with its passionate consumer base . " The acquisition of Sweaty Betty complements our strategic shift over the last several years from a traditional footwear wholesaler into a consumer - obsessed , digital - focused growth company . It also gives us a leadership position in the growing women's activewear category , " said Blake W. Krueger , Wolverine's Chairman and Chief Executive Officer . " Wolverine Worldwide has a long and successful track record of acquiring and building brands , including performance brands like Sweaty Betty , and we are thrilled to welcome them to our Company . " " Sweaty Betty aligns perfectly with our strategic growth plan for Wolverine Worldwide , as we focus on growing digital channels , expanding our international footprint , and building our brand portfolio beyond footwear , " said Brendan Hoffman , President of Wolverine Worldwide . " Sweaty Betty's expertise and focus on apparel , female consumers , and best - in - class digital execution has proven to be a winning combination . We are excited to support the brand's continued growth while learning from its digital - first mindset and leveraging that strength across our portfolio . " Sweaty Betty's Chief Executive Officer , Julia Straus , will continue to lead the brand and will report to Hoffman . " Sweaty Betty has seen incredible growth over the past few years , and we are excited to further accelerate this growth as part of the Wolverine Worldwide family , ” said Straus . " From the moment I met the team at Wolverine Worldwide , I knew they were the right partner to support us in the next chapter of 1