Aldo to Buy Vince Camuto in a Merger of Shoe Brands
Aldo, the privately held Canadian shoe company, has agreed to acquire the footwear
and accessories operations of the Camuto Group, the company founded by the fashion impresario Vince Camuto, who died in 2015.
Aldo, based in Montreal, was founded in 1972 by Aldo Bensadoun, the “son of a
shoe merchant, grandson of a cobbler,” according to the company’s website.
The Camuto Group was founded by Mr. Camuto, a quiet force in the fashion industry who founded the women’s footwear chain Nine West,
and has collaborated with Banana Republic, BCBG and more.
“This will create a very impressive, large and scaled footwear operation,” said William Susman, managing director at Threadstone, a boutique investment bank
that specializes in consumer and retail transactions but is not involved in the deal.
The takeover will give Aldo, which makes its own shoes
and sells them in thousands of stores around the world, a bigger footprint at a moment when fashion brands are seeking growth through mergers and acquisitions.