Munro Footwear Group makes fourth acquisition in as many years with recent Fusion Retail Brands deal
Cornwalls congratulates the Munro Footwear Group, the Munro family and the shareholders of Fusion Retail Brands on completing a deal that has been in the works for a little over 15 months.
“We started looking [at Fusion Retail Brands] a little over 15 months ago … we just wanted to make sure it was the right fit for both of us,” Mr Jay Munro (CEO, Munro Footwear Group) said. “We’ve definitely come to that decision and we’re very excited about what the future holds.”
“We have advised the Munro family on a number of acquisitions recently but this is by far the largest. It’s an exciting time for the merged group and we too look forward to what the future holds”, says Dean Katz (Partner, Cornwall Stodart, lawyers advising Munro Footwear Group).
Fusion Retail Brands will now become part of the Munro Footwear Group stable adding an additional $200 million in annual sales to the Company and bolstering its retail footprint to almost 300 stores Australia wide. It adds to Munro Footwear portfolio of brands household names such as Williams, Mathers, Diana Ferrari and Colorado.
The deal was led by Dean Katz, partner in the Corporate & Commercial team at Cornwall Stodart. Given the nature of the businesses, it also involved extensive assistance from Stephen Curtain (Property), Martin Alden (Employment & Industrial Relations), Joel Masterson (Intellectual Property) and Paul Goldin (Tax / Revenue Law).