Square Four Investments, the Frankfurt-based equity firm that took over the insolvent Rohde last year, has announced the acquisition of Sioux, a German company that belongs to the insolvent Egana Goldpfeil group, along with its sub-brand Apollo.
The takeover of Sioux is retroactive to last Jan. 1. Square Four will manage Rohde and Sioux separately. Both companies will keep their own respective production facilities in Portugal for the foreseeable future. Some synergies will be sought in such areas as purchasing and logistics.
Sioux is described as a profitable company that employs 100 people at its head office in Germany and 300 others at its own factory in Portugal. Sales reached about €50 million last year on deliveries of more than one million pairs of shoes, but they were off slightly because of liquidity problems related to the insolvency of Egana Goldpfeil, which recently sold its international Salamander chain of shoe shops to Ara Shoes.
Sioux will continue to be run by Klaus Schinle. The company has developed a nice business in China, and the new owners want to continue to expand the brand internationally.
Square Four has acquired six companies within the last two years. It has completely restructured Rohde, placing it under the management of a new chief executive, Pierre Heinrich, who came from Sara Lee. According to an official of Square Four, Rohde is now profitable.