WARRINGTON SELLS SHOE DIVISIONS
(Warrington Inc) said it sold its shoe
divisions to Montreal-based (Taurus Footwear Inc) for
undisclosed terms.
    The divisions manufacture and distribute Greb, Hush
Puppies, Kodiak, and Santana brand shoes and had revenues of
about 69 mln dlrs last year, Warrington said. It said the sale
of the shoe divisions and the previous sale of its ski boot
businesses will result in an unspecified net gain.
    Warrington said it plans to concentrate on its Canstar
Sports Group Inc skate and athletic footwear division, the
largest ice skate manufacturer and distributor in the Western
world.
    Warrington said it decided to rationalize the balance of
its ski businesses, which is expected to result in a divestment
loss which could outweigh the net gains on the sales of its
shoe and ski boot divisions.
    Taurus said the acquisition is expected to increase its
annual sales to about 100 mln dlrs and make it Canada's largest
footwear manufacturer.
 Reuter
