Speculation is building that Adidas Group could be close to a deal to sell the Rockport brand.
Multiple sources in the comfort sector told Footwear News this week that Drydock Footwear Group, an independent business unit under New Balance, might be the leading contender for the label.
Adidas and Drydock declined to comment; a Rockport spokeswoman did not return calls and emails.
Adidas stated publicly in May it was entertaining offers for the comfort brand. According to previous reports, Rockport could sell for more than $300 million, based on comparable EBITDA multiples. For Adidas — which has had a tough year financially — a deal would allow the company to focus solely on its core athletic business.
And several insiders told FN they believe Rockport could have a brighter future under a different owner. Drydock President Bob Infantino, who previously headed Clarks, has strong ties in the industry and currently oversees the Aravon, Dunham and Cobb Hill labels.