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Crocs to Acquire Bite Footwear
Crocs Will Buy Bite Footwear for $1.75 Million, Plus a Potential $1.75 Million More
NIWOT, Colo. (AP) -- Crocs Inc., which makes trendy, colorful plastic shoes, said Monday it agreed to acquire Bite Footwear for $1.75 million, plus up to $1.75 million more if Bite makes some earnings targets over the next three years.
Bite makes performance shoe and sports sandals, including a sports sandal with a removable insole.
Crocs plans to use its proprietary material, Croslite, in Bite's products. Crocs also said Bite's OrthoSport product line will add to its RX medical line.
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