St. Louis -- Brown Shoe Co. said Wednesday it has finalized the sale of its And 1 men’s performance and lifestyle brand to Galaxy International for $55 million.
The And 1 brand was part of the $145 million American Sporting Goods acquisition that Brown completed last February in a move to expand its reach into the fitness category.
Brown Shoe said it plans to use the proceeds from the sale of And 1 to pay down debt.
