MBO at Cosyfeet

Published: 17 June, 2011

David Price, owner and founder of the well known footwear brands Cosyfeet and Walktall, has sold the parent company Foot Shop Ltd, for an undisclosed sum, to its current Executive Board.

The new owners do not predict major changes in the direction of the business, and state that the company will continue to operate as before from its base in the country village of Street, in Somerset, which has long been associated with the shoe industry.

The Executive Board members who have bought the company include Andrew Peirce (Managing Director and Cosyfeet Brand Director), Jackie Bemmer (Finance Director), Jim Lockyer (Walktall Brand Director and Web Director) and Nick Brine (Operations Director). Together they have over 30 years combined experience working with the company and have an excellent understanding of its products and markets. They intend to uphold the company’s core values of excellent product and first class customer service.

“We are delighted & excited about the future,” says Managing Director, Andrew Peirce. “The Company is a good one, made up of many excellent & committed people, and together we look forward to building an even stronger business in years to come.”

Foot Shop Ltd has an annual turnover of £13 million. Cosyfeet has continued to grow steadily despite the difficult economic conditions, with turnover increasing by 16% over the last 3 years. The Cosyfeet brand leads the UK market in the development and supply of extra roomy footwear for people with swollen or bandaged feet and ankles. Its products also include a range of own brand specialist socks, hosiery and foot care products. Demographic trends suggest that the elderly, Cosyfeet’s core target market, is a strong growth sector.

Walktall, a more recent brand development by Foot Shop Ltd, is now well established and the business has doubled in size over the last three years. It specialises in supplying men’s shoes in sizes 12 to 19.

For editorial enquiries call Marianne Wilson on 07796 690326.

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