Footwear brand Van Dal’s parent company The Florida Group has secured its future following a management buyout.
The Florida Group’s management team, led by managing director Tony Linford, has agreed terms for the buyout with chairman Simon Goodman and his family, which has owned the company since it was founded by Goodman’s grandfather Adelman Goodman in the early 1900s.
Goodman will step down as chairman, although he will retain a stake in the company.
Linford told Drapers the management was the preferred bidder for the takeover.
He said: “Simon’s (Goodman) main objective was to keep the business in Norwich and to retail the heritage of the brand. We all know the business inside out and he knows that we will keep our roots here and maintain history.”
As well as Linford, the management team involved in the buyout includes head of product Claire Farmer, head of marketing Jason Larke, head of finance and HR Pamela Clarke, and head of logistics Anne-Mette Christensen.
Linford said the business will continue to expand in the UK through concessions in independent department stores.
Van Dal has recently joined the brand line-up at Fenwick in Canterbury and he hopes to roll the label out throughout the Fenwick group.
The brand currently has 270 wholesale accounts across the UK and Ireland as well as 41 concessions in department stores, 14 of which were former Jane Shilton shop-in-shops.