Collective Brands Inc. (NYSE: PSS) announced Friday that it will acquire the Above The Rim brand from Reebok International as it looks to build its presence in the U.S. and overseas, according to Associated Press.
Terms of the deal were not disclosed.
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Collective Licensing's other brands include Sims, Hind, Airwalk and Vision Street Wear. Above the Rim includes apparel, accessories and footwear.
Collective Brands owns Payless Shoe Source and brands such as Stride Rite, Keds, Sperry Top-Sider and Saucony.
Shares rose 15 cents to $21.61 in morning trading.
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