Wolverine sells Champion footwear trademarks to Hanesbrands for $90M cash

WOLVERINE WORLD WIDE INC /DE/

Keds subsidiary sold Champion marks for US, Canada, Puerto Rico to Hanesbrands for $90M.
Wolverine retains perpetual license to use Champion on certain footwear like Keds Champion sneaker.
Transaction resolves outstanding litigation between the parties over Champion mark use.
CEO cites simplified business model and cash at meaningful multiple of future royalty streams.

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