Rocky Brands, Inc. Announces Sale of Servus Brand
NELSONVILLE, Ohio--(BUSINESS WIRE)-- Rocky Brands, Inc. (NASDAQ: RCKY) announced today that it has sold its Servus brand to PQ Footwear, LLC, a subsidiary of Industrias PetroQuim, SA, which has been globally providing high quality footwear and components for over 67 years. The transaction closed on March 30, 2023. The proceeds from the transaction were used to pay down debt. Terms of the transaction were not disclosed.
Rocky Brands acquired Servus in March 2021 when it purchased the performance and lifestyle footwear business from Honeywell. Servus offers a wide range of quality PVC and neoprene footwear with a focus on safety certified work boots.
About Rocky Brands, Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names. Brands in the portfolio include Rocky®, Georgia Boot®, Durango®, Lehigh®, The Original Muck Boot Company®, XTRATUF® and Ranger®. More information can be found at RockyBrands.com.
Chief Operating Officer
Source: Rocky Brands, Inc.
Released April 3, 2023