Logan-based Altra footwear sold

LOGAN – Altra footwear, a subsidiary of ICON Health and Fitness, has been sold to VF Corporation, a company with ownership of multiple lifestyle brands like The North Face, Vans, Timberland, Wrangler, and Lee. Terms of the sale were not disclosed.

The Altra shoe brand began in Utah and was purchased by Logan-based ICON Health and Fitness in 2011. The shoe brand, specially-designed for road and trail running, is sold in over 50 countries through more than 1,600 specialty retail outlets.

According to a press release about the sale, ICON Chairman and CEO Scott Watterson said Altra will fit right in with the other brands managed by VF Corporation. He also said the sale will help ICON focus even more efforts on their other existing brands.

“The sale of Altra,” Watterson explained, “will accelerate the continuing growth of our NordicTrack and ProForm core brands, our Freemotion commercial business, and iFit, our connected fitness subscription. The global health and wellness industry is exploding, and we’re doubling down on that growth.”

According to Outside Magazine, Altra cofounders Golden Harper and Brian Beckstead will remain with Altra as VF employees.

“The active outdoor and performance sector is a large and attractive growth space,” says Steve Rendle, Chairman, President and Chief Executive Officer of VF Corporation in the release.

The sale is expected to be finalized in April, at which time more terms of the acquisition are expected to be released. According to the official press release, on a trailing 12-month basis, the Altra brand generated approximately $50 million in revenue.

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