Jones Bootmaker sold for £40m

Jones Bootmaker, one of the oldest footwear chains on the British high street, has been sold to Dutch retail giant Macintosh Retail Group for a sum of £40m. Jones Bootmaker, which can trace its roots back over 150 years, yesterday confirmed that

it had agreed to a takeover by the Maastricht-based company.

The current chairman, Peter Phillips, and chief executive, Ken Bartle, bought more than 70 per cent of the business in 2009 after the Icelandic private equity group Arev fell into difficulties. they ploughed £4.5m into the business to turn it around. The pair will step down.

Macintosh owns the Brantano chain, which it bought in 2008. With Jones Bootmaker, the Dutch group will become the third largest shoe specialist in the UK.

In a press release, Frank De Moor, CEO of Macintosh, said: “We are delighted that we have been able to further flesh out our strategy through this acquisition. It also makes the UK, in addition to the Netherlands and Belgium / Luxembourg, the third country in which Macintosh Retail Group wishes and is able to grow in the fashion sector. This acquisition brings us more possibilities towards suppliers and will make Jones Bootmaker’s brand expertise available to our other shoe formats. I am certain that this will even further increase the dynamics and opportunities for growth of our fashion activities.”

Peter Phillips, chairman of Jones Bootmaker, said: “The board of directors is delighted to have been acquired by a business with an established track record in the footwear sector. We are quite clear that both companies share a mutual vision of a combined group dedicated to the sale of quality footwear and the experience of superb customer service which has always been associated with this heritage brand. We consider that this acquisition will be hugely beneficial to our customers, staff and suppliers.”

Alfred Jones and his wife Emma set up A. Jones & Sons in 1857.

Image: Jones Bootmaker