RCKY - Rocky Brands unloads Servus brand to help pay down debt

2023-04-03 08:19:32 ET

Rocky Brands Inc. ( NASDAQ: RCKY ) announced on Monday  that it sold its Servus brand to PQ Footwear LLC for an undisclosed amount.

The footwear manufacturing company acquired Servus in March of 2021 when it purchased the performance and lifestyle footwear business from Honeywell. Servus is noted to offer a wide range of quality PVC and neoprene footwear with a focus on safety certified work boots.

The transaction closed on March 30. Proceeds from the sale were used by Rocky Brands ( RCKY ) to pay down debt.

See how Rocky Brands' ( RCKY ) balance sheet has changed over time.

Shares of Rocky Brands ( RCKY ) are down 2.33% year-to-date and are off 46.34% over the last 52 weeks.

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