Footwear firm Steve Madden has acquired the intellectual property assets of Blondo from Regence Footwear Inc and 3074153 Canada Inc..
Terms of the transaction were not disclosed. The company said it expects the deal to be dilutive in the first half and accretive in the back half of 2015 due to the seasonal nature of the Blondo business. The business is estimated to contribute 1 cent to diluted EPS for full fiscal year 2015.
Blondo is a footwear brand specializing in waterproof leather boots. According to Madden, Blondo’s trailing 12 month net sales as of Nov. 30, 2014 were $25 million.
Edward Rosenfeld, chairman and chief executive officer, said, “Blondo adds authentic weather-resistant footwear collections that complement the Steve Madden portfolio. By leveraging our proven business model and established infrastructure, we believe there is significant opportunity to expand the Blondo business globally.”