Phoenix Footwear has acquired Chambers Belt for $21.5 million in a share and cash deal that will add $40 million in annual revenues to Phoenix. Last year the company had sales of $76 million and has bought five companies since 2000. Senior members of Chambers’ management team, including Charlie Stewart, its CEO, Kelly Green, head of the women’s division, and Dave Matheson, vice president of sales and marketing, are remaining with the business. Chambers produces belts in a range of styles from Western to fashion, and sells to diverse outlets in the USA including Wal-Mart, Nordstrom, Pacific Sunwear and Shepler’s.