Crocs, maker of casual footwear, has announced it has completed its previously announced acquisition of Hey Dude, a privately-owned casual footwear brand.  

"With the acquisition of Hey Dude, we are thrilled to add another high-growth, highly profitable brand to our portfolio," says Andrew Rees, chief executive officer, Crocs. "We believe Hey Dude's casual, comfortable and lightweight products are aligned to long-term consumer trends and are a perfect fit for Crocs. We intend to leverage our global presence, best-in-class marketing and scale infrastructure to build upon Hey Dude's strong foundation and create significant shareholder value. We truly admire the business that founder Alessandro Rosano has built and are honored to welcome the Hey Dude team to Crocs." 

The closing was effective as of Feb. 17.