Jacobson Ventures

Jacobson Ventures finds the perfect fit on its acquisition of 25 Famous Footwear factory outlet units.

Jacobson Ventures, a new company set up by Harvey Jacobson, has acquired 25 Famous Footwear factory outlet units from Leicester-based shoe retailer, Stead & Simpson. Harvey Jacobson is the majority shareholder of Jacobson Group, the leading supplier of footwear to UK retailers, owning a strong stable of footwear brands including Gola, Lotus, Frank Wright and Ravel.

The 25 stores comprise all the factory outlet units operated by Stead & Simpson and provide Jacobson Ventures with the opportunity to operate a selective number of retail outlets that will not compete with the existing trade customers of Jacobson Group. The Famous Footwear business generated sales of £20m in 2007.

Clearwater advised the Jacobson Group on the acquisition, making a pre-emptive bid for the 25 outlets. Clearwater constructed and negotiated a robust deal structure, sourced the funding and used deep sector knowledge to advise not just on the deal issues but also the commercial aspects of the transaction. We were appointed as a result of our sound knowledge of the shoe retail market.

Using our networks to identify and recruit an interim general manager for running the division, allowed minimal disruption to the business post acquisition.

Speaking about the completed deal, Harvey Jacobson said:

“This is an exciting and important step in the ongoing development of our footwear interests. The Famous Footwear stores provide an opportunity to clear any excess stock without harming our brands and to profile our brands more prominently in these outlets, without competing with our existing trade customers.”