ROCKFORD, Mich., Jan. 22 /PRNewswire-FirstCall/ -- Wolverine World Wide, Inc. (NYSE: WWW) announced today the acquisition of Chaco, a performance outdoor footwear brand based in Colorado with a unique heritage and strong consumer following. The acquisition also includes ULU, a premium brand of distinctive and fashionable performance winter boots. Terms of the transaction were not disclosed.

Chaco was launched in 1989 to meet the needs of the whitewater enthusiast. The brand quickly grew to be a market leader in sandals sold in the specialty outdoor retail channel. Chaco footwear is recognized and well-respected for its BioCentric footbed and its adjustability, durability and unique performance characteristics. The brand had global revenue of more than $20 million in 2008, with the United States market representing nearly 90 percent of global sales.

This acquisition represents an excellent opportunity for Wolverine to leverage its world-class sourcing and logistics infrastructure, building upon Chaco's leadership in the U.S. market while expanding its business internationally.

All Chaco employees will continue employment with the brand as the integration strategy is further developed and executed. Mark Paigen, Chaco's founder, will serve as a key resource and consultant to the business. Chaco will become part of Wolverine's Outdoor Group, which also includes the Merrell and Patagonia Footwear brands, and will report to Scott Sible, President of the Outdoor Group.

Mark Paigen commented, "I am pleased to bring Chaco and ULU together with the strength and expertise of Wolverine World Wide. As part of Wolverine's Outdoor Group, Chaco can maintain its integrity and dedication to making footwear that has inspired strong consumer loyalty for more than 20 years. This move will provide the needed resources and international reach for Chaco to realize its full potential."

"We are excited to welcome the Chaco brand to our strong and expanding portfolio of performance and lifestyle brands," commented Blake Krueger, Wolverine's Chief Executive Officer and President. "Chaco's leadership in the outdoor market, particularly in the sandal market, makes it a natural fit for our Company, and we believe the brand will immediately benefit from Wolverine's established global brand-building expertise, distribution network and logistics infrastructure. We believe the Chaco brand still has tremendous potential in the U.S. market and has enormous untapped potential globally. We look forward to building on Chaco's strong history of category leadership and consumer loyalty to drive future innovation and growth."

With a commitment to service and product excellence, Wolverine World Wide, Inc. is one of the world's leading marketers of branded casual, active lifestyle, work, outdoor sport and uniform footwear and apparel. The Company's portfolio of highly recognized brands includes: Bates(R), Chaco(R), Cushe(R), Hush Puppies(R), HYTEST(R), Merrell(R), Sebago(R) and Wolverine(R). The Company also is the exclusive footwear licensee of popular brands including CAT(R), Harley-Davidson(R) and Patagonia(R). The Company's products are carried by leading retailers in the U.S. and globally in nearly 200 countries and territories. For additional information, please visit our website, www.wolverineworldwide.com.

This press release contains forward-looking statements, including those relating to the successful integration and development of the Chaco business. In addition, words such as "estimates," "expects," "intends," "should," "will," variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. Risk Factors include, among others: the Company's ability to successfully integrate and develop the Chaco brand and business; changes in duty structures in countries of import and export including anti-dumping measures in Europe with respect to leather footwear imported from China and Vietnam and safety footwear imported from China and India; trade defense actions by countries; changes in consumer preferences or spending patterns; cancellation of orders for future delivery; changes in planned customer demand, re-orders or at-once orders; the availability and pricing of foreign footwear factory capacity; reliance on foreign sourcing; regulatory or other changes affecting the supply of materials used in manufacturing; the availability of power, labor and resources in key foreign sourcing countries, including China; the impact of competition and pricing; the impact of changes in the value of foreign currencies, including the Chinese Yuan, and the relative value to the U.S. Dollar; integration and operation of newly acquired and licensed businesses; the development of new initiatives; the development of apparel; retail buying patterns; consolidation in the retail sector; changes in economic and market conditions; acts and effects of war and terrorism; weather; and additional factors discussed in the Company's reports filed with the Securities and Exchange Commission and exhibits thereto.

Other Risk Factors exist, and new Risk Factors emerge from time to time that may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Furthermore, the Company undertakes no obligation to update, amend or clarify forward-looking statements.

SOURCE Wolverine World Wide, Inc.