By David Gelles.
Aldo, the privately held Canadian shoe company, has agreed to acquire the footwear and accessories operations of the Camuto Group, the company founded by the fashion impresario Vince Camuto, who died in 2015.
The takeover will give Aldo, which makes its own shoes and sells them in thousands of stores around the world, a bigger footprint at a moment when fashion brands are seeking growth through mergers and acquisitions. Terms of the deal, which was confirmed by the companies, were not made public.
“This will create a very impressive, large and scaled footwear operation,” said William Susman, managing director at Threadstone, a boutique investment bank that specializes in consumer and retail transactions but is not involved in the deal. “And given trends in retail, I believe that benefits accrue to those with scale.”
Read more at The New York Times.