Private equity firm Brentwood Associates to acquire Allen Edmonds
Port Washington, Wis. — Upscale men’s shoemaker Allen Edmonds Corp. has agreed to be acquired by an affiliate of Brentwood Associates, a Los Angeles based private equity firm. Terms of the transaction weren’t immediately disclosed.
Brentwood will take over the company from Minneapolis-based Goldner Hawn Johnson & Morrison, which bought Allen Edmonds in 2006.
Allen Edmonds will remain an independent private company, according to its president and CEO, Paul Grangaard. He said the company will now have greater access to investment capital as a result of the ownership.
Grangaard also announced that the existing leadership team will remain with the company. He emphasized that Allen Edmonds remains completely committed to its "Made in USA" manufacturing strategy and its expanding Port Washington, Wis. production operation.
"The Allen Edmonds brand fits perfectly with our strategy of investing in category-defining brands with exceptional customer loyalty," said Steve Moore, Partner of Brentwood Associates, who leads the investment with Roger Goddu, another Brentwood partner. "Paul and his leadership team have been excellent stewards of the company over the past five years and have proven their ability to grow and strengthen the business even in difficult times. We are confident that tremendous growth lies ahead for the brand in both the U.S. and key international markets."
Allen Edmonds products are available at premier stores worldwide, including 45 company-owned Allen Edmonds stores across the United States.
Loft to open in Vancouver
Vancouver — Loft, a division of Ann Inc., will open its first Canadian West Coast location, at The Village at Park Royal, in Vancouver, on Nov. 15.
Since its arrival in Canada last year, Loft has opened five locations across Ontario and introduced international shipping.
"We’re thrilled to meet our new West Coast clients and look forward to collaborating, sharing advice and learning even more about Vancouver women and their unique style," said Austyn Zung, creative director of design, Loft. "The Vancouver store solidifies our commitment to Canada and we look forward to being in this exciting market."
The new 4,823-sq.-ft. store is situated in the heart of the Vancouver shopping center.
Patagonia selects planning tool from 7thonline
New York — Patagonia has selected 7thonline, a New York-based omni-channel merchandise and assortment management solution provider to help the retailer better match production supply with dynamic market demand to drive greater customer satisfaction and increased profitability.
Patagonia will leverage 7thonline’s industry-specific platform with embedded BI and analytics to improve its ability to plan and forecast demand at style/color level, better collaborate with majors, efficiently aggregate demand at the enterprise level, track and analyze global inventory from a single source, and make timely data-driven decisions on total production buy.
Such overall inventory visibility coupled with instant reporting and attribute-based planning and analysis will give Patagonia a strategic advantage to become more proactive in analyzing, anticipating and meeting demand in a highly competitive marketplace, according to 7thonline.