Shoe Carnival, Inc. (NASDAQ: SCVL), a retailer of footwear and accessories, has acquired all of the assets of privately held, Shoe Station, Inc. Shoe Station operates stores in five Southeastern United States and was purchased for a price of $67 million.
The deal will result in Shoe Carnival owning and operating Shoe Station’s locations and bring new brand and retail locations to SC’s portfolio create a complementary retail platform to serve a larger customer base.
“Shoe Carnival brings infrastructure and financial backing to significantly accelerate our Shoe Station brand growth,” said Brent Barkin, Shoe Station CEO. “Taken together, the two brands create a winning customer value proposition. We are delighted to become part of Shoe Carnival.”
Jefferies, LLC served as financial advisor to Shoe Carnival, KPMG LLP served as the due diligence advisor to Shoe Carnival, and Faegre Drinker Biddle & Reath LLP served as its legal advisor in connection with the transaction.