St. Louis, Brown Shoe Co. will acquire Boston-based Bennett Footwear Group LLC for $205 million in a deal expected to close in May. Bennett brands, including Via Spiga, Franco Sarto and Etienne Aigner, are sold in major department stores and specialty shops. It also operates eight Via Spiga retail stores.
“Bennett Footwear Group is the perfect fit for Brown Shoe Group,” said Ron Fromm, chairman and CEO, Brown Shoe.
Brown’s senior management will join Brown Shoe and continue to head the Bennett brands.
Comments
Post a CommentIt is good to acquire new
It is good to acquire new business for new resources. It means expanding the venture and means more sales can be gained. - Rich Von Alvensleben