SBD / Issue 213 / Crocs Buys Bite Footwear For Golf Entry

SBD/Issue 213/Finance

Crocs Buys Bite Footwear To Aid Foray Into Golf Industry

Published July 31, 2007

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Crocs acquired Bite Footwear yesterday for $1.75M in cash with potential for another $1.75M “if the company reaches certain earnings targets in the next three years,” according to Elizabeth Aguilera of the DENVER POST.  Bite makes performance shoes and sports sandals, but Crocs “wanted it for its standing in the world of golf footwear.” Crocs PR Manager Tia Mattson: “They have [a] niche market in the golf marketplace and it’s a market we’ve been interested in” (DENVER POST, 7/31).

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