Clearwater International has advised Macintosh Retail Group NV on its acquisition of UK shoe retailer, Jones Bootmaker.
In 2008, Maastricht-based Macintosh Retail Group NV, acquired shoe retailer, Brantano, which has over 150 stores in the UK. The acquisition of Jones Bootmaker will add 93 stores to its UK footprint and turnover of circa £95 million.
Gareth Iley, director at Clearwater International, said: “The retail industry has faced significant challenges over recent months, but this transaction shows that quality businesses in the sector can prove to be attractive acquisition targets. Further consolidation in the retail industry is likely to follow in 2011, particularly as overseas buyers look to secure a foothold in the UK.
“Brantano is an established and respected brand and the acquisition of Jones Bootmaker demonstrates Macintosh’s ambition to increase its coverage of the UK shoe retail market by owning complementary brands.”
Richard Cox, corporate partner at Browne Jacobson in Nottingham, provided legal advice to Macintosh on the transaction.