Brief: Rocky Brands To Acquire Leading Brand Portfolio From Honeywell Including The Original Muck Boot Company And Xtratuf

Rocky Brands

25/01/2021 13:44

Jan 25 (Reuters) - Rocky Brands Inc  RCKY.O :
    * ROCKY BRANDS, INC. TO ACQUIRE LEADING BRAND PORTFOLIO FROM
HONEYWELL INCLUDING THE ORIGINAL MUCK BOOT COMPANY AND XTRATUF
    * ROCKY BRANDS - PURCHASE PRICE IS BEING FUNDED WITH
$80-MILLION
SENIOR SECURED ASSET-BACKED CREDIT FACILITY WITH BANK OF
AMERICA,
    * ROCKY BRANDS - PURCHASE PRICE ALSO FUNDED WITH $130
MILLION
SENIOR SECURED TERM LOAN FACILITY WITH DIRECT LENDING GROUP OF
TCW ASSET MANAGEMENT, CASH ON HAND
    * ROCKY BRANDS INC - DEAL EXPECTED TO BE IMMEDIATELY
ACCRETIVE TO
GROSS MARGINS AND EARNINGS PER SHARE
    * ROCKY BRANDS - IN CONNECTION WITH DEAL, 7 MANAGEMENT
EMPLOYEES
OF HONEYWELL'S LIFESTYLE FOOTWEAR BUSINESS ENTERED INTO
EMPLOYMENT AGREEMENTS WITH CO

Source text for Eikon:  ID:nBw95T7w3a 
Further company coverage:  RCKY.O 

 ((Reuters.Briefs@thomsonreuters.com;))