One of the oldest brands on the British high street, Jones Bootmaker, has been sold to Dutch retailer Macintosh Retail Group.
One of the oldest brands on the British high street, Jones Bootmaker, has been sold to Dutch retailer Macintosh Retail Group.
In a statement, Maastricht-based Macintosh, which owns footwear retailer Brantano, says the acquisition of the well-known British brand is an ‘excellent fit’ for the international group’s fashion growth strategy.
Jones Bootmaker has sales of around €110 million (£95 million) and is structurally profitable, the Macintosh statement said. Current chairman Peter Phillips and chief executive Ken Bartle, who bought the business in 2001 and committed £4.5 million to turn the brand around during the past decade, will leave following the sale.
Matt Fleetwood, senior partner at lawyers Heatons, which advised Jones Bootmaker on the deal, comments, ‘When this transaction completes around the beginning of April this year, it will create a shoe retailer with a UK market share of 4 per cent. Jones Bootmaker fits in perfectly with Macintosh’s growth strategy in fashion.’
Jones Bootmaker, which was founded in 1857 as A Jones & Sons by Alfred Jones and his wife Emma, now has 93 shops across the UK selling brands including Timberland, Gabor, Barkers, Merrell, Ecco and Hush Puppies.
According to Heatons, the retailer aims to open 15 further shops in the UK during the next three years and increase its online presence and delivery.
