January 23, 2015
Weil advised Berkshire Partners in, together in a joint venture with New Balance Holding, Inc., the acquisition by such joint venture of The Rockport Company, LLC from adidas AG (Germany), as well as the acquisition of Drydock Footwear LLC, owner of the Aravon, Dunham and Cobb Hill footwear brands, from New Balance Holding, Inc.
The Rockport Company, LLC, headquartered in Canton, MA is one of the most recognized footwear brands in the United States offering stylish, comfortable footwear for men and women worldwide. The Rockport Company, LLC, was established in the United States in 1971 and currently distributes footwear to more than 50 markets worldwide.
Drydock Footwear LLC, headquartered in Boston, MA, designs, markets and sells comfort casual footwear distributed in premier independent, online and department stores in the United States and Canada. Drydock Footwear was formed in 2011 and assumed control of New Balance’s men’s and women’s casual shoe brands, Dunham and Aravon.
New Balance, headquartered in Boston, MA, is the only major company to make or assemble more than 4 million pairs of athletic footwear per year in the USA. New Balance owns five factories in New England and one in Flimby, U.K., employing more than 4,000 associates around the globe, and in 2013 reported worldwide sales of $2.73 billion.
The Weil team advising Berkshire Partners was led by Corporate partner David Duffell. In addition, the team included Environmental Transactions partner Annemargaret Connolly; Tax partner Mark Schwed; Executive Compensation & Employee Benefits partner Michael Nissan; Environmental Transactions counsel Thomas Goslin; Antitrust counsel Vadim Brusser; Corporate associates Ryan Taylor and John Godfrey; Tax associate Gladriel Shobe; and Executive Compensation & Employee Benefits associate Amanda Rosenblum.