Jacobson Ventures acquires outlet stores from Stead & Simpson
Published: 05 March, 2008
Jacobson Ventures, a newly formed company by Harvey Jacobson, has announced the acquisition of 25 Famous Footwear factory outlet units from shoe retailer, Stead & Simpson Limited.
Harvey Jacobson and his family are the major shareholders in Jacobson Group, a leading supplier of footwear to UK retailers. The company owns a strong stable of footwear brands including Gola, Lotus, Frank Wright and Ravel.
The 25 stores comprise all the factory outlet units operated by Stead & Simpson and provide Jacobson Ventures with the opportunity to operate a selective number of retail outlets that will not compete with the existing trade customers of Jacobson Group.
Harvey Jacobson said: "This is an exciting and important step in the ongoing development of our footwear interests. The Famous Footwear stores provide an opportunity to clear any excess stock without harming our brands and to profile our brands more prominently in these outlets without competing with our existing trade customers."
Tony Jones, chief operating officer of Stead & Simpson added: "We are delighted to sell these outlet stores to a leading footwear supplier. This disposal enables Stead & Simpson to streamline its offer and focus on its core business."
Mike Reeves and Gareth Iley from Clearwater Corporate Finance's retail and consumer brands team advised Jacobson Ventures.
Partner, Mike Reeves commented: "We worked with the shareholders to identify Famous Footwear as a suitable target that met their objective of not competing with the existing customer base of Jacobson Group."
DLA Manchester, with a team led by Jonathan Watkins and Michael Clark, provided legal advice to Jacobson Ventures with Simon Gill and Chris Reed of HBJ Gateley Wareing advising Stead & Simpson.