Shoe Carnival acquires Shoe Station
US retailer Shoe Carnival has acquired fellow footwear company Shoe Station in a $67 million deal.
Shoe Station operates 21 locations in five states in the south east of the US.
Mark Worden, Shoe Carnival’s president and chief executive, said: “We are excited to welcome Shoe Station to the Shoe Carnival team. Coming on the heels of our best quarter of our best year in our 43-year history, this deal accelerates our journey toward becoming a multi-billion dollar retailer in the years ahead.”
Shoe Carnival said the addition of new retail locations to its portfolio will create a complementary retail platform to serve a broader customer base across both urban and suburban demographics. Shoe Station has a strong track record of capitalising on emerging footwear fashion trends and introducing new brands to its customers.
Following the acquisition, Shoe Station’s president and chief executive Brent Barkin will become senior vice president for new business development and integration and will report to Worden. The son of Shoe Station’s founder Terry Barkin, he will continue to lead Shoe Station whilst focusing on new business growth opportunities for the combined company.
Worden added: “Brent and his team share our values and vision for the future of family footwear retail. Together, we are ready to create a multi-billion dollar company, defined and driven by traits that made us industry leaders today. We look forward to building on our joint success as we continue our growth trajectory and driving significant long-term value for all of our stakeholders.”
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