Footwear retailers Jones Bootmaker and Brantano UK will receive “much-needed investment” following their sale to Alteri Investors earlier this week, chief executive David Short has said.
The London-based investment firm acquired Jones and Brantano UK from their Dutch parent company Macintosh for €17m (£12.2m) on October 27.
Short, who has been leading the two retailers as managing director of Macintosh’s Fashion UK arm since 2008, will move across as chief executive of both.
Speaking exclusively to Drapers, Short said the outlook for both businesses was “positive” and investment from the new owners would return them to profit.
Jones and Brantano UK made a combined loss of €1.8m (£1.3m) in the third quarter of 2015.
“Alteri recognise the strength of our underlying business model on both brands and have a very positive outlook on the future of those businesses,” said Short.
“We are confident that, with their specialist retail knowledge, they will bring the support and long overdue investment to deliver step change improvement in performance and profitability.
“We can now put the uncertainty of the sale process behind us and, with the added momentum that comes with new ownership, get back to putting all our efforts into driving the business forward.”
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