Caleres, the Clayton-based footwear company, is acquiring Vionic, a California-based maker of shoes and orthotics.
The deal enhances Caleres’ presence in the “contemporary comfort” footwear market, the company said in a press release.
Caleres is funding the purchase through a revolving credit agreement and is expected to provide more specifics during its third-quarter earnings call in December.
Vionic has recorded sales of $180 million over the last 12 months, according to the release.
Vionic has about 150 employees, the St. Louis Business Journal reports, and its executive team will remain with the company after the acquisition.