Turin, July 31^st, 2017 – Today BasicNet S.p.A. has signed the agreement for the acquisition of the Sebago^® brand from the American company Wolverine World Wide, Inc., listed at the New York Stock Exchange.

The American Sebago^® brand, established in 1946, is a true style icon, particularly known for the penny loafers, moccasins and DOCKSIDES^® boat shoes. The brand is currently distributed in 90 countries worldwide. BasicNet Group will integrate the new brand into its business model, as already achieved in the past with other brands like Kappa^®, Robe di Kappa^®, Jesus^® Jeans, Superga^®, K-Way^®, Sabelt^® and Briko^®.

Intellectual Property rights for the Sebago^® Trademarks and related assets have been acquired by TOS S.r.l., a company fully owned by the BasicNet Group, for a total consideration of USD $ 14.25M (approximately 12 million Euro at the current exchange rate), excluding other charges ancillary to the acquisition.

Wolverine World Wide, Inc. and BasicNet Group have agreed on a transition plan through the end of 2017 aimed at guaranteeing a seamless transition for all Sebago^® brand customers globally.

The operation has been funded through a 13 million Euro loan granted by MPS Capital Services Banca per le Imprese S.p.A.

“Sebago^® is an ideal brand for BasicNet: classic, iconic, sporty and renowned worldwide� says Marco Boglione, Founder and Chairman of the BasicNet Group. “This is a wonderful opportunity for the BasicNet’s network of distribution licensees and sourcing centers�.

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