Caleres Announces Acquisition of Stuart Weitzman in $105 Million Deal

Caleres, Inc. (NYSE: CAL), a prominent footwear brand company, revealed today that it has entered into a Sale and Purchase Agreement with Tapestry, Inc., a Maryland corporation, to acquire the Stuart Weitzman business for a total cash payment of $105 million. This transaction, announced on February 16, 2025, is subject to adjustments related to cash, debt, and working capital as outlined in the Purchase Agreement.

The Purchase Agreement includes standard representations, warranties, and covenants typical for such transactions. Additionally, the Company has obtained a representations and warranties insurance policy to seek coverage for potential breaches of the seller’s representations and warranties, with some exclusions and retention amounts. Indemnification provisions have been agreed upon for specified claims, and the agreement entails nonsolicitation and confidentiality clauses. Closing the deal is dependent on meeting standard closing conditions, with both parties entering a transition services agreement to facilitate ongoing operational support post-acquisition.

While this summary provides an overview, investors are encouraged to refer to the full Purchase Agreement, which is attached as Exhibit 2.1 to the filing, for comprehensive details. The information contained in the Purchase Agreement is specific to the agreement’s terms and should not be solely relied upon for other factual details about the parties involved.

In a press release issued on February 19, 2025, Caleres disclosed the acquisition of Stuart Weitzman, further solidifying its presence in the women’s fashion footwear segment. The acquisition aligns with Caleres’ strategic goals to expand its Brand Portfolio division, enhancing its global reach and direct-to-consumer capabilities. Caleres is expected to fund this transaction through its revolving credit agreement, with the deal set to conclude in the summer of 2025.

Financial details and integration strategies will be shared by Caleres post-closure of the acquisition. Notably, in line with the timing of this acquisition, Caleres provided a business update for the fiscal year ending February 1, 2025, anticipating consolidated net sales and earnings per diluted share to be consistent with previous guidance.

BofA Securities acted as financial advisor to Caleres, with BCLP (Bryan Cave Leighton Paisner) providing legal counsel. Morgan Stanley & Co. LLC was Tapestry, Inc.’s financial advisor, supported by legal advisory from Latham & Watkins LLP.

The completion of the transaction with Tapestry highlights Caleres’ commitment to further expanding its brand reach and market presence in the footwear industry. This acquisition positions Stuart Weitzman as a key brand within Caleres, aimed at bolstering the company’s revenue and operating profit from its Brand Portfolio segment.

Caleres, with its vast portfolio of footwear brands including Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, and Vionic, continues to focus on offering quality products and inspiring customers globally.

The business combination underlines the continued evolution and growth trajectory of Caleres, as it seeks to leverage its established footwear expertise and pursue sustainable growth avenues while upholding brand legacies and consumer trust in the dynamic footwear marketplace.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Caleres’s 8K filing here.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.