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Aldo-Camuto deal is off

25/10/2017
The proposed acquisition of the footwear business of fashion group Camuto by Canadian shoe group Aldo is off. Aldo made an announcement in mid-October saying both parties have decided not to pursue the transaction, but will work as partners.

They announced in August that the acquisition was going ahead, with Aldo chief executive, David Bensadoun, saying Camuto’s strength in the US and in wholesale would help his company grow. In the October statement Mr Bensadoun said: “Despite not moving forward with the acquisition, Camuto Group will become a key strategic partner for us. Our two organisations have complementary strengths, capabilities and reach, and we look forward to partnering in ways that will grow both businesses.”

His counterpart at Camuto, Alex Del Cielo, explained: “We look forward to exploring ways to build a platform that will allow both companies to work together on a wide range of global opportunities. We have discovered many ways we can partner together and are excited about what the future holds for both organisations.”






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