Allen Edmonds Corp. has a new owner.
The Port Washington, Wis.-based firm, known for its commitment to U.S. manufacturing, has been acquired by an affiliate of Brentwood Associates, a Los Angeles-based private equity firm. Minneapolis-based Goldner Hawn Johnson & Morrison had owned the company for the past seven years.
According to Allen Edmonds’ president and CEO, Paul Grangaard, the firm will remain independent and be led by its current management team.
“[Brentwood Associates] loves the track and momentum we are on and is eager to partner with our team,” said Grangaard. He emphasized that no major changes are planned. “We will fine-tune what we do.”
Grangaard emphasized key members of Allen Edmonds’ management team will maintain their financial stake in the company as well. “We are making a substantial commitment,” he said.