Brantano and Jones Bootmaker have been sold to Alteri Investors for €17m (£12m) by Dutch parent company Macintosh.

The deal was revealed on the Dutch stock exchange this morning and was “at the lower end of the originally expected range”.

The transaction was completed yesterday (October 27) and has resulted in a book loss of €53m (£38m) for Macintosh. The underlying EBITDA for Macintosh’s fashion UK business in the third quarter was a loss of €1.8m (£1.3m).

Macintosh chief executive Kurt Staelens said: “With the disposal of Nea International in April and that of Fashion UK this week we have set major steps in realisation of our strategy towards focus on the Benelux shoe market.”

Jones Bootmaker and Brantano have 170 and 120 stores and concessions in the UK respectively and employ 3,500 staff between them.

Macintosh country managing director David Short previously told Retail Week that the two retailers are “very strong brands which are well known in the marketplace, with established market share”.

He added: “I hope the new owners will build from the platform we have now and grow that market share.”

Alteri’s other transactions have included the acquisition of multi-brand retailer Versandhaus Walz and the provision of a 3-year secured term loan to Austin Reed.