 MILWAUKEE, June 07, 2021 GLOBE NEWSWIRE -- Weyco Group, Inc. NASDAQ: WEYS the Company today announced that it acquired substantially all of the operating assets and certain liabilities of Forsake, Inc. Forsake, a distributor of outdoor footwear. The principal assets acquired were inventory, accounts receivable, and intellectual property, including the Forsake brand name. The aggregate purchase price was approximately 2.5 million, plus contingent payments paid annually over a period of five years, depending on Forsake achieving certain performance measures. At the acquisition date, the Companys preliminary estimate of the discounted fair value of the contingent payments is approximately 1.75 million in total. The transaction was funded with the Companys available cash. 