Wolverine World Wide announced that it has signed a letter of intent to acquire the business and selected operating assets of Sebago, Inc. of Gorham, ME for cash. The final agreement is expected in October, 2003.

Timothy J. O’Donovan, president and CEO of Wolverine, in announcing the purchase, said: “Sebago is recognised the world over as the premium nautical and classic hand sewn brand with a long history and great global heritage. The acquisition of the Sebago business represents another step in the execution of our strategic plan centred on marketing the world’s strongest portfolio of non-athletic footwear brand that competes in a premium segment of the market not currently served by any of our other brands.”

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