Private equity firm Berkshire Partners and Boston-based footwear maker New Balance Athletic Shoe Inc. are buying The Rockport Co. from the Adidas Group (ETR: ADS) for $280 million.
Based in Canton, Massachusetts, Rockport sells men’s and women’s shoes and boots. It will be folded into Drydock Footwear LLC, a New Balance affiliate, and begin doing business as a new stand-alone company, The Rockport Group. Drydock is known for the Cobb Hill, Aravon and Dunham brands. Drydock founder and president Bob Infantino will serve as chief executive of Rockport Group once the acquisition wraps up.