R.G. Barry Corporation Purchases Foot Petals for $14M

Accessory footwear and slipper marketer R.G. Barry Corporation DFZ today announced that it has completed the purchase of substantially all of the assets of Foot Petals, LLC., a Long Beach, California-based developer and marketer of premium insoles and products that offer comfort solutions to many common footwear-related problems. R.G. Barry will operate Foot Petals as a subsidiary. "The purchase of Foot Petals for $14 million cash is consistent with our acquisition filter," said R.G. Barry Corporation Senior Vice President Finance and Chief Financial Officer Jose Ibarra. "The business generates positive cash flow and will be immediately accretive to earnings. We believe the Foot Petals brand will grow into an important component of our total business."