Anthony L&S Footwear, makers of FUBU, Levi’s and Phat Farm labels among others, in partnership with the Weisfeld Group, has aquired the Etonic brand from Lotto Sport Italia. Meridian Capital, a Seattle-based investment bank, served as Lotto’s exclusive financial and strategic advisor on the transaction.
Founded in 1876 and re-branded as Etonic in 1976, the brand’s heritage lies in running, golf and bowling footwear categories. The brand introduced the first golf-specific shoe and the first “Gore-Tex” waterproof golf shoe. Etonic also developed a line of running shoes that prevented injury. It reached the height of popularity during the mid ’90s, eclipsing $100 million in sales.
“We are extremely excited about our acquisition of the worldwide rights to the Etonic Brand,” states Bruce Weisfeld, president of the Weisfeld Group. “Etonic is truly an authentic American athletic company. We plan to restore and reinvigorate Etonic and return the brand to its rightful place among the best athletic companies in the world.” Weisfeld adds, “We plan on continuing the Etonic tradition of “firsts” by bringing to market many new developments in each category in the months and years to come. We are confident that this strategy, combined with increased market awareness through endorsements, sponsorships and marketing, will re-establish Etonic as a leading American heritage sporting goods supplier.”