Newspaper article St Louis Post-Dispatch (MO)

Caleres Buys Allen Edmonds, a Men's Dress Shoe Company, for $255 Million

Newspaper article St Louis Post-Dispatch (MO)

Caleres Buys Allen Edmonds, a Men's Dress Shoe Company, for $255 Million

Article excerpt

Caleres has acquired Allen Edmonds, a men's dress shoe company, for $255 million, the company said Tuesday.

The deal allows the Clayton-based shoe retailer to "rapidly increase" its exposure in men's footwear.

"We think we've acquired one of the great gems in men's footwear," Diane Sullivan, CEO, president and chairman of Caleres, said in a statement.

Caleres acquired Allen Edmonds from Los Angeles-based private- equity firm Brentwood Associates. The deal is subject to certain adjustments.

Allen Edmonds will join the company's current roster of men's shoes that includes Vince, George Brown Bilt and Dr. Scholl's.

"We'll be sharing our men's footwear knowledge and expertise, while simultaneously benefiting from the brand development, materials sourcing, product development and design capabilities inherent in a much larger footwear organization," Paul Grangaard, president and CEO of Allen Edmonds, said in a statement. …

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