Year in Review: Key M&A Deals

Creative dealmaking in 2013 set out to bolster a number of footwear firms.

LVMH + Kirkwood
The fashion conglomerate nabbed a majority stake in Nicholas Kirkwood for an undisclosed sum in September. The deal is expected to boost the London-based brand on a global scale and provide access to LVMH’s vast resources, in addition to freeing up the designer to focus on the creative side of the business.

Jones + Sycamore
An agreement finally was sealed last week for private equity firm Sycamore Partners to purchase The Jones Group for $15 a share, or $1.2 billion, though the deal was valued at $2.2 billion including debt. Jones put itself on the auction block amid pressure from activist hedge fund manager Barington Capital Group L.P. to pare down its non-core fashion brands and focus on shoes.

K-Swiss + E.Land
South Korean conglomerate E.Land World Ltd. bought the athletic label for $4.75 a share in a cash deal valued at about $170 million. Weeks later the firms teamed up to purchase OTZ Shoes.

Rocky + Rec

For a cool $11 million, Rocky Brands acquired Creative Recreation and gained exposure to the hipsters sporting its upscale sneakers. It also won access to Creative Rec’s design expertise and the chance to enter casual footwear.

Bruno + Fortelus
Bruno Magli’s hedge fund owner, Fortelus, is locked in talks to offload the brand to a consortium of Asian investors, including E.Land and Hong-Kong based private equity shop CDIB Capital. The sale was set to wrap in November but the team at Bruno has been dragging its heels over price.

Doc + Permira
Dr. Martens’ advisers at Rothschild pounded the pavement for more than a year before striking a deal with private equity firm Permira for $485 million. The company generated a 27 percent lift in sales in its last fiscal year to about $260 million.

Dazzle + Fab
It was an e-commerce marriage when Shoedazzle.com merged with competitor Justfab.com for an undisclosed sum in August. ShoeDazzle was once worth $240 million, but is rumored to have sold in the vicinity of $10 million to $30 million.

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