Pentland plans to take the California-based brand to global markets.
Market leader Aetrex has acquired Sols Systems to strengthen its offering of technology-driven orthotics and footwear.
Madden acquired the business this month.
This time, Walmart purchased an outdoor retailer for $51 million.
The confirmation came when the firm announced fourth-quarter earnings.
Speculation is heating up this week.
Macy’s is said to be courting several buyers — but a sale is not that simple.
The signs are there that the department store could pursue a sale.
The firm will operate as a stand-alone business with its current management team and employees.
The news comes after months of speculation.