Havaianas Owner Buys Into Rothy’s, Valuing Sustainable Shoe Brand At $1 Billion
Brazilian footwear giant Alpargatas – best known for its Havaianas flip-flop brand – is to acquire a 49.9% stake in U.S. direct-to-consumer (DTC) company Rothy's in a deal that represents a post-investment valuation of $1 billion.
The acquisition consists of a $200 million investment in primary capital followed by an acquisition of around $275 million of Rothy's shares from current stockholders.
The agreement also provides Alpargatas with a call option to Vibram Shoes Five Fingers acquire the additional Rothy's shares from selling stockholders between the first anniversary and fourth anniversary of the initial transaction.
Upon completion, Rothy's co-founders Stephen Hawthornthwaite and Roth Martin will maintain "a significant equity stake" in Rothy's and will continue to oversee ...





