US: Footwear maker Aerosoles in private equity deal
Fashion footwear maker Aerosoles has been acquired by private equity firm Palladin Consumer Retail Partners, with the investment aimed at driving the business into its next phase of growth.
The company, whose brands include Aerosoles, A2, Aerology and What's What, is present in 4,000 stores in 30 countries. Aerosoles will continue to be led by chief executive, Jules Schneider, who is "retaining a major ownership position".
The two companies have already commenced new initiatives in branding, store design, merchandising, product development and e/m-commerce.
Schneider said the Palladin team will "provide creative insights and operational improvements that will be instrumental in capitalising on the strength of the Aerosoles brands as we bring the company to the next level".
Palladin CEO Mark Schwartz added: "We are confident that, with additional capital, expertise, and initiatives, we will be able to significantly expand Aerosoles' positioning and distribution in domestic and international markets, including accelerating the growth of its retail network."
Caryn Lerner, operating parner at Palladin, noted that its creative and design teams expect to introduce new concepts to the market as the year progresses.
Financial details of the acquisition were not disclosed.
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