PORTLAND – Sebago Inc., maker of docksider casual shoes and dress shoes, is being sold to a Michigan company that makes Hush Puppies and Merrell Boots.

Wolverine World Wide, which announced the acquisition on Thursday, said Sebago provides a premium brand to complement its other lines.

“Sebago is a premium, upmarket product and right now Wolverine doesn’t have that,” said Tim Hanson, a spokesman for Wolverine. “It’s an all-American classic … nautical and classic hand-sewn footwear.”

The price of the acquisition was not announced. Wolverine is a publicly traded company on the New York Stock Exchange, but Sebago is privately held. Wolverine paid cash for the company.

Sebago owner Dan Wellehan, whose father founded Sebago Inc. in Westbrook after World War II, will assist with the transition and serve as a senior adviser and brand ambassador, Hanson said.

“I have a great deal of mixed emotions,” Wellehan said Thursday. “There’s a great sense of sadness. Here’s a business my dad had started and has been in our family since 1946.”

But he also believes Wolverine is a good company with similar values and that the deal could lead to growth opportunities for Sebago.

For now, there are no plans for changes at Sebago, which has 230 Maine employees in Westbrook, Gorham and Bridgton, along with about 200 employees in the Dominican Republic.