The outdoor and work boot maker is acquiring the Muck, XTRATUF, Servus, NEOS and Ranger brands from Honeywell International for a purchase price of $230 million. Financing for the deal is through a LIBOR plus 1.50%, $80-million senior secured asset-backed credit facility and a $130 million, LIBOR plus 7.00% senior secured term loan, with the rest coming from cash on hand. Expected closing is later in the first quarter of 2021, and seven executives will join Rocky Brands as part of the agreement. RCKY shares jumped 12% on the news.

Honeywell’s performance and lifestyle footwear brands had revenues of about $205 ... Log in to view full article.