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Wolverine sells Sebago

US footwear group Wolverine World Wide has sold boat shoe brand Sebago to BasicNet, the Italian company that owns brands including Kappa, K-Way and Superga, for $14.3m (£10.8m).

Sebago

Sebago

 

The two groups have agreed to work together for the reminder of the year to ensure a smooth transition for stockists.

“Sebago is an ideal brand for BasicNet: classic, sporty, iconic and well known worldwide,” said Marco Boglione, founder and president of the BasicNet Group. He added that it was “a great opportunity for the global network of our licensees both commercial and industrial.”

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