Shoe Carnival acquires Shoe Station
Footwear retailer Shoe Carnival has announced the acquisition of Shoe Station, in a $67-million deal.
As part of the acquisition, Shoe Carnival will own and operate Shoe Station locations including its 21 stores in Alabama, Mississippi, Louisiana, Florida and Georgia. The acquisition will also allow Shoe Carnival to expand its portfolio through Shoe Station’s complementary retail platform, targeting a wider customer base that ranges across urban and suburban demographics.
“We are excited to welcome Shoe Station to the Shoe Carnival team,” said Mark Worden, president and chief executive officer of Shoe Carnival. “Coming on the heels of our best quarter of our best year in our 43 year history, this deal accelerates our journey toward becoming a multi-billion dollar retailer in the years ahead.”
Shoe Station, president and CEO, G. Brent Barkin has been appointed as the company’s senior vice president, business development and integration and will report to Worden.
“Shoe Carnival brings infrastructure and financial backing to significantly accelerate our Shoe Station brand growth,” said Barkin. “Taken together, the two brands create a winning customer value proposition.”
Shoe Carnival said it now expects to exceed 400 stores by the end of 2022 and is on its way to achieve double-digit growth in new stores in the years ahead.
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