Shoes For Crews LLC, a slip-resistant footwear manufacturer, agreed yesterday to acquire Genesco Inc.’s SureGrip Footwear subsidiary, a manufacturer and distributor that sells most of its products to business customers through e-commerce. Terms were not disclosed.

SureGrip manufactures occupational, slip-resistant footwear that it sells to hospitality, grocery, food service, healthcare and industrial clients under name brands including New Balance, Caterpillar, Dockers, Lila, Merrell, Aerosoles, Crocs, DC Shoes, Johnston & Murphy and Keuka.

Shoes For Crews andSureGrip both distribute products through corporate safety footwear programs in addition to selling directly to consumers. Shoes For Crews sells products through two stores, based in Orlando, Fla., and Las Vegas, as well as at ShoesForCrews.com. Its customers include Advance Auto Parts Inc., No. 116 in the 2017 B2B E-Commerce 300 and Costco Wholesale Corp. SureGrip customers include Whole Foods Market.

Neither company would disclose sales figures, but SureGrip has said 80% of its B2B orders are processed online at SureGripFootwear.com. SureGrip serves about 20,000 business customers that account for 90% of sales. The remaining sales are to consumers.

Adding Shoes For Crews’ proprietary outsole technology to select SureGrip products will provide a wide selection of slip-resistant footwear at a range of prices, Shoes For Crews says. “We are excited by the many opportunities that will result from bringing SureGrip into our portfolio, especially the ability to offer our customers a wider variety of stylish and comfortable products,” says Stuart Jenkins, president and CEO of Shoes For Crews.

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The transaction is expected to close by year’s end.

Genesco sells wholesale footwear under its Johnston & Murphy, Trask, Dockers and G.H. Bass & Co. brands. The company also operates retail footwear, sports apparel and headwear businesses, including Lids and Journeys. In August 2010, Genesco bought Keuka Footwear Inc., changed its name to SureGrip Footwear and relocated company headquarters to Nashville, Tenn. from Keuka Park, NY.

Genesco does not break out online sales, but for the fiscal third quarter ended Oct. 29 reported:

  • Total sales of $710.8 million, down 8.2% from $773.9 million in the same quarter last year;
  • Net income of $25.9 million, compared with net income of $32.5 million.

For the first nine months, Genesco reported:

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  • Total sales of $1.99 billion, down 4.8% from $2.09 billion last year.
  • Net income of $50.9 million, compared with $49.9 million.

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