Wolverine World Wide Inc. will exit a joint venture in China involving footwear brands Merrell and Saucony in a $61 million deal, the latest in a series of divestitures and restructuring this year as part of what executives have called an ongoing “turnaround.” In another move announced today, the Rockford-based marketer and licenser of footwear and apparel will sell its Asia-based Wolverine Leathers business for approximately $9 million. “We’ve taken fast, bold, and decisive actions to stabilize the company today, while working to transform Wolverine Worldwide for the future,” President and CEO Chris Hufnagel said in a statement. The sale of Wolverine
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