Shoe retailer Shoon, owned by restructuring specialist GA Europe, is set to buy Jane Shilton’s footwear brand.
Using funding from GA, Shoon will acquire all of Jane Shilton’s 39 department store concessions, which it operates in retailers including Beales and Browns. Shoon, which has 10 UK stores, will also buy the Jane Shilton footwear licence and associated stock on completion.
GA supported a management buy-out of Shoon last year.
The acquisition of Jane Shilton’s footwear brand is expected to complement Shoon’s existing high street presence and provide opportunities for cost savings and operational synergies across the businesses.
The deal, the value of which has not been disclosed, is subject to the agreement of the individual host stores and will take effect from August 1 this year.
Shoon managing director Stephen Sanders said the Jane Shilton footwear brand “has a clear market position supported by Jane Shilton’s heritage in handbags and developed through their partnerships with independent department stores”.
Sanders added: “With a similar customer profile to Shoon, we believe we have an excellent opportunity to develop both businesses. With GA Europe’s support, we have been able to revive Shoon and this deal represents an exciting stage in our development.”
GA’s chief executive Gavin George said: “This deal further underlines our creative approach to backing and developing retail businesses where we can successfully apply our capital, specialist restructuring skills and leverage our extensive retail networks.”