ABC Mart grows footprint with LaCrosse acquisition
Japanese footwear retailer ABC Mart has bought US-based LaCrosse Footwear for $137 million, an acquisition that furthers its ambitions to grow outside its home market.
LaCrosse owns the Danner brand and specialises in hiking and hunting boots, and supplies the military, law enforcement and mining sectors.
Minoru Noguchi, president of ABC Mart, said: “The combined entity will be well-positioned to strengthen LaCrosse’s lifestyle and casual footwear business, by jointly developing and producing footwear with competitive quality, pricing and design, and drive the geographic expansion of LaCrosse and Danner-branded footwear, particularly in Japan, South Korea, Taiwan, Hong Kong and the rest of Asia, as well as in Europe.”
Fuelled by a strong yen and a fairly stagnant home market, Japanese companies are hunting for growth through acquisitions abroad.
ABC Mart operates about 800 stores, and has recently been building its presence in South Korea and Taiwan.
