Maxwell Shoe Company Inc, (Nasdaq:MAXS), today announced it has completed the acquisition of a substantial portion of the assets of joan and david helpern, incorporated and JOAN HELPERN DESIGNS, INC for an aggregate $16.8m in cash.

Under the terms of the agreement, Maxwell Shoe Company acquired a substantial portion of joan and david helpern, incorporated's assets, including certain inventory, the on-order merchandise, leases for the corporate office, as well as all the trademarks of JOAN HELPERN DESIGNS, INC.

Mark J. Cocozza, chairman and CEO of Maxwell Shoe Company, said: "We are excited about the completion of this acquisition as the Joan & David brand presents a number of opportunities for Maxwell Shoe. Specifically, we are committed to investing in the continued development of the brand and have the resources necessary to foster its long-term growth."

About Maxwell Shoe
Maxwell Shoe Company Inc designs, develops and markets casual and dress footwear for women and children. The company's brands include Mootsies Tootsies, Sam & Libby, Dockers® Footwear for Women, A LINE ANNE KLEIN(TM), ANNE KLEIN2® and J.G. Hook.