Daniel Footwear buys rival business
UK-based shoe retailer Daniel Footwear has acquired rival company Rojo Shoes in a deal backed by a £700,000 funding package from Barclays.
Established in 1993 with one shop in Leeds, Daniel Footwear now operates 25 retail outlets throughout the UK and specialises in designer labels including Prada, D&G, DKNY and UGG.
“Barclays Corporate has been very supportive of our latest acquisition and plays an integral part in our plans for future growth,” said director Daniel Buck.
“With the new financial structure in place we intend to be pro-active in taking advantage of the opportunities the current climate presents and I'm delighted that we have completed the acquisition so quickly.”
The company, which employs approximately 140 staff, is now UK-wide with the recent acquisition adding two further outlets in London and a third in Belfast, Northern Ireland.
The funding package was put together by Barclays Corporate director Sam Drummond, who said: “It really is a pleasure to see a company go from strength to strength and buck the current market trend.”
