Wolverine Worldwide deal means UK workout brand’s founders will further loosen ties
Sweaty Betty, the upmarket British workout gear brand, has been sold to a US footwear firm in a $410m (£295m) deal that will all but sever ties between the company and the husband-and-wife team who founded it.
After a year-long sale process that had been expected to fetch as much as £400m, the Michigan-based footwear manufacturer Wolverine Worldwide said it had struck a deal at a lower price with Sweaty Betty’s backers.
