Footwear retailer Shoon has bought foot clinic and comfort footwear retailer Shuropody for an undisclosed sum.
The takeover was funded by Tnui Asset Finance and the Business Growth Fund.
Tnui Asset Finance backed businessman Mark Pinnock’s purchase of Shoon in April 2015 from footwear veterans Ken Bartle and Peter Phillips.
Shuropody has 150 chiropody clinics nationwide serving more than 250,000 patients each year.
Pinnock, who is now managing director of Shoon, told Drapers he has “big plans” for Shuropody in both the retail and clinical parts of the business.
“We see great opportunities and plan to grow the business, building on the exemplary work already started by the management team and we see great synergies between Shuropody and our other companies in this retail space.”
He added: “We are currently carrying out an in-depth analysis of the business. When completed, this will give us the building blocks to flourish and expand in both the podiatry and retail sectors”.
Shuropody stocks its own range of comfort footwear as well as brands such as Rieker, Joseph Seibel, FitFlop, Vionic, Strive and Padders.
In April, Pinnock revealed that Shoon was back in the black, making a “small profit”, and sales were up 3% on 2015.
Shoon made a pre-tax loss of £1.3m on sales of £8.3m for the year to February 1 2014, accounts filed at Companies House show.
Shoon closed one store in St Albans in March. It now has nine stores and four concessions, and plans to open a new store in “a busier location” in St Albans later this summer.
Pinnock said he intends to open a further three Shoon shops this year in south-east England. He has his eye on six stores in other locations across the UK for 2017.