Payless ShoeSource $91 Million Deal

I try to keep with the happenings of shoe companies. I just read the Payless Shoesource Inc. will shell out $91 million to buy a company that owns, manages and licenses shoe, apparel and sports equipment brands, particularly focused on skateboarding and snowboarding trends.

Payless is buying Denver-based Collective Licensing International, which owns the Airwalk brand of shoes sold exclusively in Payless stores since 2003.

Payless CEO, Mathew E. Rubel said th purchase of Collective International was made in part to build Payless into a more diversified company.

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