Macintosh, which operates the Dolcis fascia in the Netherlands and is the largest footwear retailer in the country, intends to make a cash bid for the full share capital of the Brantano Group, which is listed on the Euronext Brussels stock exchange.
Macintosh is expected to convene an extraordinary shareholders meeting to discuss its proposals for the Belgian retailer on November 15.
Mitiska NV and Sobradis NV, who together represent 56% of the total shares, have agreed to take up the offer from Macintosh.
The Brantano board of directors led by chief executive Kurt Moons said in a statement they viewed the approach as a "friendly bid".
Brantano has 286 stores - 125 in Belgium, four in Luxembourg, 146 in the United Kingdom and 11 franchise stores in the Middle East.
The Macintosh Retail Group specialises in home and fashion. The firm operates more than 450 footwear stores under the Scapino, Dolcis, Manfield, Invito and PRO brands in the Netherlands, Belgium and Germany.