A.Algeo acquires Phipps division
The insoles (socks) division of British footwear component manufacturer Phipps & Co has been acquired by supplier of orthopaedic and podiatric machinery, components and materials, such as leather and coverings, soling materials and component fastenings, A.Algeo Ltd.
Commenting on the deal, Algeo’s chairman Alan Sheridan stated: "The acquisition of the socks division of Phipps & Co is a promising venture for both Algeos and Phipps & Co and we look forward to the challenge of undertaking a new division and monitoring its impact on the industry. We are constantly seeking to improve on our and we believe with our experience and expertise in bringing new and under performing products to market, we are perfectly positioned to develop the division. The deal is also beneficial for our company as we now have greater scope to supply our established markets of bespoke and orthopaedic footwear, with custom products manufactured to specification."
