Corporate and M&A – Page 10
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ArticleThe French brand Heschung is taken over
The French footwear company Heschung is being taken over by PPL Finance following a court ruling issued on July 5. On April 11, the nine stores of the Alsace-based brand had been placed into receivership while a liquidation process was launched for the production site situated in Steinbourg, about 40 ...
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ArticleHotter Shoes’ parent considers bankruptcy as funding crisis deepens
Unbound Group, the owner of British footwear retailer Hotter Shoes, has admitted it is considering going into administration, the U.K.’s form of bankruptcy, unless it can resolve its funding crisis. The company was forced to issue a statement to the London Stock Exchange after media reports suggested it was scrambling ...
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ArticleThe family office MKCP takes over Bama
Bama, the German supplier of shoe care products and insoles that is part of the Serafin group, has found a new investor. MKCP, a Hamburg-based family office, has taken over the firm and its assets as part of an insolvency procedure, Bama announced. The company applied for self-administration ...
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ArticleTitan Industries buys Clergerie
On June 29, a Paris-based commercial court approved the takeover of Maison Clergerie by the California-based footwear company Titan Industries. The French maker of luxury footwear was placed into receivership on March 29 after failing to reach an arrangement between shareholders and creditors. Titan Industries is acquiring Clergerie for €700,000 ...
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ArticleCoats launches a new footwear division
Coats, the U.K.-based manufacturer of industrial yarns and structural components for apparel and footwear, has launched a new footwear division following its acquisition of Texon and Rhenoflex in 2022. Following a period of integration, Coats Footwear was launched, offering an expanded range of components and material solutions to footwear and ...
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ArticleC-Suite interview: Autry’s owner looks to cash in on success as it puts the brand up for sale
The owner of the fast-growing sneakers brand Autry is looking to cash in on its success with a sale to a new investor. The private equity Made in Italy Fund, managed by the Italian asset management company Quadrivio and the fashion consultancy Pambianco, acquired a controlling stake in Autry along ...
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ArticleUnbound can’t find a buyer, mulls a capital increase
Shares in Hotter Shoes’ owner Unbound Group plunged after the company said it had taken itself off the market after receiving no buyout offers and was now looking at an equity raising to support a restructuring plan. The shares were down by over 18 percent on the day. “No potential ...
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ArticleAuthentic Brands Group emerges as ‘stalking horse’ for Rockport
Affiliates of Authentic Brands Group, ABG-Regatta LLC and ABG Intermediate Holdings, have emerged as the ‘stalking horse’ bidder for The Rockport Company, agreeing to pay $40.4 million for the bankrupt firm’s intellectual property, $5 million for its Korean subsidiary and additional, yet-to-be-determined amounts for inventory. The closing cash purchase price ...
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ArticleRockport files for bankruptcy again
Forty years after introducing DresSports, considered the first classic dress shoe with a rubber sole, The Rockport Company filed for Chapter 11 bankruptcy protection on June 15 for the second time in five years. The petition lists some $99.71 million in funded debt obligations and more than $63.1 million ...
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ArticleThe U.S. wholesale channel is Skechers’ most challenged marketplace
Currently, the U.S. wholesale market is probably the “single most challenged marketplace” for Skechers, while India is one of its most “exciting” markets. The company continues to see “robust” consumer demand in Europe, while China continues to offer “ample opportunity” to grow, explained John Vandemore, Skechers’ chief financial officer, during ...
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ArticleGörtz may have found a new investor after the Wangenheims back down
The troubled Hamburg-based shoe retailer Görtz has reportedly found a new investor, potentially bringing a long period of uncertainty to an end. After an eventful year, marked by a capital injection from the German government, a sweeping reorganization effort, a pandemic-driven bankruptcy, a tentative deal with new investors and their ...
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ArticleAuthentic Brands Group buys the rights to the Hunter brand
Authentic Brands Group (ABG) announced on June 2 the acquisition of the intellectual property of Hunter, the British brand famous for its Original Wellington boot. No financial details were released, but Sky News cited a source suggested that the deal could value Hunter as much as £100 million (€116m). ...
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ArticlePermira buys a majority stake in Gruppo Florence
London-based private equity Permira has agreed to acquire a majority stake in Gruppo Florence from its shareholders. The deal is expected to close in the fourth quarter of 2023. No financial terms were disclosed, but Reuters cited a source close to the matter saying that the deal values Gruppo Florence ...
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ArticleAsos raises £80m by issuing shares
Asos raised about £80 million (€92.1m) of gross process by selling newly issued ordinary shares, but there is concern that the British online fashion retailer will need further cash to finance its restructuring. The shares were sold at 418.1 pence (€4.81) each. The proceeds will support the company’s Driving Change ...
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ArticleOne of Alpargatas’ main shareholders wants to increase its stake
The investment firm MS Alpa Participações wants to buy 32 million preferred shares in Alpargatas, the Brazilian footwear company known for the Havaianas brand, at 10.50 Brazilian reais (€1.97) each through a public tender. Alpargatas was informed of the offer on May 19 after the close of the Brazilian ...
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ArticleUnbound puts itself up for sale as funding crisis continues
Unbound, the owner of Hotter Shoes, is putting itself up for sale as the beleaguered British retailer started another restructuring of its operations amid an ongoing funding crisis. The firm said that it was facing constraints after failing to secure fresh cash in light of weaker-than-expected first-quarter trading. It expects ...
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ArticleJD Sports’ unit Spodis to take over Gap France
Spodis, a unit of JD Sports Fashion, has been chosen by a Grenoble-based commercial court to buy for €300,000 part of the assets of Wilsam, which manages franchised Gap stores in France. “With realistic operating and financial forecasts, a capacity to support working capital and investments with its own resources, ...
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ArticleHotter Shoes’ parent in trouble as Marwyn drops £10m investment plan
Hotter Shoes’ owner Unbound Group has called in a turnaround specialist after a £10 million (€15m) funding deal collapsed amid a continuing deterioration in trading conditions. Last month, Marwyn Investment Management said it would provide the funding via an equity placing at 10.5 pence (12 euro cents) per share. However, ...
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ArticleWolverine explores options for Sperry
Wolverine Worldwide reported better-than-expected first-quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit consumer ...
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ArticleJD Sports in talks to buy Courir
JD Sports Fashion announced that on May 8 it entered into exclusive negotiations with the owners of Groupe Courir to buy the French chain of sportswear for €325 million euros in cash. The acquisition is seen as a good fit for the British brokerage Peel Hunt and will enable JD ...
