R.G. Barry Corp. on Friday completed its deal to buy the Foot Petals LLC accessories firm for $14 million in cash.
R.G. Barry, known for its Dearfoams brand of slippers, said the acquisition generates positive cash flow and will be immediately accretive to earnings.
Mary Ann Domuracki, managing director at Financo, which represented R.G. Barry, said the company is evolving and “adding more products to complement [its existing business in] the comfort of the foot.”
R.G. Barry senior vice president for finance and chief financial officer Jose Ibarra said that the transaction is “consistent with our acquisition filter.”