Clearwater advises Jones Shoemaker buyout
Birmingham-based Clearwater Corporate Finance has advised The Netherlands-headquartered Macintosh Retail on its acquisition of shoe retailer Jones Bootmaker.
The purchase of Eastbourne-based Jones Bootmaker will add 93 stores and consumer sales of about £95m to the Maastricht-based retailer’s portfolio.
In 2008, Macintosh Retail acquired shoe retailer Brantano, which has more than 150 stores in the UK, as part of the Belgian listed company Brantano NV.
The Clearwater team that advised Macintosh Retail comprised Phil Burns, Gareth Iley and Richard Shaw.
Gareth Iley, director at Clearwater, 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.
The sum of the acquisition was not disclosed.
