Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 7, 2022

Article Excerpt

CROCS INC., $125.70, symbol CROX on Nasdaq, makes casual footwear for men, women, and children. It is best known for its molded shoes featuring Croslite, a non-toxic foam material that aims to give its footwear a soft, comfortable feel. Crocs have sold more than 720 million pairs of shoes in over 90 countries worldwide since its launch in 2002. On December 23, 2021, the company announced the $2.5 billion acquisition of Heydude, a privately owned casual footwear brand based in Italy. Heydude makes light and casual footwear such as slip-ons for men, women and kids, which are priced around $60. Founded in 2008, Heydude is one of the fastest-rising brands with teens. In 2021, Heydude’s sales were approximately $570 million. In 2022, that’s expected to jump to $725 million. Heydude generates 40% of its sales online. In the quarter ended September 30, 2021, Crocs’ revenue was $625.9 million, up 73.0% from $361.7 million a year earlier. Revenue growth was strong in all regions,…

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