Fashion footwear company Steve Madden today announced that it has acquired the intellectual property and related assets of Blondo, the Canadian footwear brand specializing in waterproof leather boots, from Regence Footwear and 3074153 Canada Inc.
Founded over 100 years ago, Blondo products are sold to wholesale customers, including better department stores and specialty boutiques in both the U.S. and Canada, and online at www.blondo.ca. The company markets footwear under its own brands which include Blondo, BlondoSport, Be by Blondo, AquaProtect, Faber, StudioB Blondo, College and Aqua College, as well as under retailer private labels. As of November 30, 2014, Blondo’s trailing twelve-month net sales were approximately $25 million.
Steve Madden chairman and chief executive officer Edward Rosenfeld said, “We are pleased to complete the acquisition of Blondo, a brand known for footwear that marries fashion with function. 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.”
The terms of the transaction were not disclosed. Due to the seasonal nature of the business, the transaction is expected to be dilutive in the first half and accretive in the back half of 2015, contributing approximately $0.01 to diluted EPS for the full year fiscal 2015.