Anchorage Capital Partners announced that it has today completed the acquisition of Shoes & Sox Pty Ltd.
Founded in 1987, Shoes & Sox is Australia’s leading independent children’s footwear specialist. Focused on the premium childrens’ and infants’ shoe market, Shoes & Sox has a reputation for fitting expertise -“we fit feet right.” Shoes & Sox currently employs around 200 staff across 24 stores, which are located in premium Australian metropolitan shopping centres.
The acquisition of Shoes & Sox is highly complementary to Anchorage’s recent acquisition of Brand Collective. “As Brand Collective’s largest customer for Clarks shoes, the acquisition of Shoes & Sox enhances Brand Collective’s pathway to the customer and improves Brand Collective’s position in the footwear value chain”, said Simon Woodhouse, Anchorage Managing Director and Chairman of Brand Collective. “Along with the strategic value for Brand Collective, there is significant opportunity to grow the Shoes & Sox retail network in this specialty segment.”
Shoes & Sox has an experienced and highly regarded leadership team, led by Martin and Michele Tabachnik. Martin and Michele will remain with Shoes & Sox for at least two years following completion of the sale.
“This transaction represents an exciting new phase for Shoes & Sox, providing additional scale to drive future growth,” said Managing Director Martin Tabachnik. “Importantly, it ensures the longer-term prosperity of Shoes & Sox for our valued staff, who deliver on our mission of putting the best-fitting shoes on children’s feet.”
Anchorage will be represented on the Board of Shoes & Sox by Simon Woodhouse as Chairman and Daniel Wong as Non-Executive Director.
About Shoes & Sox
Shoes & Sox is Australia’s leading independent children’s footwear specialist. Focused on the premium childrens’ and infants’ shoe market, Shoes & Sox has a reputation for fitting expertise -“we fit feet right.” Shoes & Sox currently employs around 200 staff across 24 stores, which are located in premium Australian metropolitan shopping centres.
About Brand Collective
Brand Collective owns a number of iconic Australian brands including Volley, Grosby and Julius Marlow, and has exclusive licences for leading international brands including Superdry, Clarks, Hush Puppies and Mossimo. The business sells through a combination of leading department stores and discount department store chains, as well as around 50 branded retail sites and several company owned websites. Brand Collective also owns the Shoe Warehouse chain of discount footwear stores.
About Anchorage Capital Partners
Anchorage Capital Partners is a specialist Australian private equity firm that focuses on investing in companies which have strong and established track records, but are not achieving their full potential. The funds managed by Anchorage have $450 million in committed funds. Anchorage's partners and investment professionals have considerable experience in company management, corporate strategy, management consulting and corporate finance and have a long track record of successful partnerships with management teams. Anchorage has significant experience in the consumer products and retail sector, gained through successful investments including Dick Smith Holdings, Burger King New Zealand and Golden Circle.