Comfort footwear label Rockport has officially been sold by Adidas Group to investment firm Berkshire Partners LLC and New Balance Holding Inc. The sale, announced in January, closed on July 31. The deal was estimated at $280 million.
New Balance Holdings affiliate Drydock Footwear Group will absorb the Rockport label, which will be rebranded the Rockport Group. The new Rockport Group will include other comfort focused brands Aravon, Dunham and Cobb Hill.
Leading the new company is industry veteran Bob Infantino, who returns to Rockport after more than three decades. He joined the company in its early years, working alongside its founders Bruce and Saul Katz.
“Serendipity aside, bringing Drydock and Rockport under one roof is a natural evolution for both companies,” said Infantino. “Since the beginning, Rockport’s core business has been its men’s line, while Drydock’s strength is in its women’s brand, Cobb Hill. Together they set The Rockport Group on a very exciting path for growth.” He added that that innovation in the comfort category will be a top priority.
The Rockport Group will remain headquartered in the greater Boston area and continue distribution to better independents, department stores and online in North America, in addition to 63 countries worldwide.