Portfolio Company: Allen Edmonds Corporation
Allen Edmonds Corporation has agreed to be acquired by an affiliate of Brentwood Associates, as reported in the New York Times, The Wall Street Journal and numerous other media outlets.Allen Edmonds will remain an independent private company, according to its president & chief executive officer Paul Grangaard, and will now have greater access to investment capital.“We’re absolutely delighted to partner with Brentwood Associates as we drive the development of this 91-year-old growth company,” said Grangaard. “This smooth transition provides us with the capital needed to continue building the Allen Edmonds brand, broadening our product line and taking our Made in USA products to new cities around the globe.”
Allen Edmonds is coming off two consecutive record years and is on pace for a third in 2013.
“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.”
Roundup of media coverage: