Comfort footwear brand Aerosoles is being acquired by American Exchange Group (AEG). The transaction for the assets of Aerosoles, announced Jan. 19 without specific financial details, adds a 31st brand to AEG’s portfolio that includes owned, private label and licensed footwear and accessories.

In December, AEG formally announced a relationship with Aerosoles to introduce a mid-priced range of footwear in select retailers in Spring 2022. With the deal, AEG intends to expand the 35-year-old brand’s distribution reach and footwear categories and attract new consumers to the label. Under terms of the asset purchase, Aerosoles will go forward as a separate division of AEG with its existing senior management team that includes CEO Alison Bergen.

Most importantly, the acquisition marks a positive development for the casual comfort brand that faced numerous operational challenges during it history, including a bankruptcy filing in Sep. 2017 that resulted in the closure of 78 own brick-and-mortar locations, moving swiftly and efficiently into the ecommerce space and exiting the off-price retail market.

Aerosoles is currently sold in Nordstrom, Macy’s, DSW, Belk and on Amazon-owned Zappos.