After 195 years, the Clarks family might possibly divest their historic footwear brand. We cannot rule out the possibility, so much so that two potential buyers are reportedly ready for the deal. The former is LionRock Capital, a private equity fund, headquartered in Hong Kong, which is well-known to be, among other things, one of International Football Club’s minority shareholders. The latter is Alteri Investors, a British company that specializes in the recapitalization of businesses being short of cash assets. As reported by Sky News, which made public the news, negotiations are allegedly underway and might even lead to a rather sensational outcome.
They might go for divestiture
The brand, which is (also) renowned for its iconic Desert Boots, was on the lookout for a minority business partner in order to improve its cash asset situation, jeopardized by the pandemic. The aim was to collect 100 to 150 million British pounds.
Yet, the brand’s availability to take extra-family capitals, formerly announced in spring, has triggered a desire to buy out and control one of the most popular brands in the footwear industry worldwide. As highlighted by Sky News, only two potential buyers are supposedly in the running now: LionRock Capital and Alteri Investors.
Reportedly, negotiations are due to close within October. According to sources quoted by Sky News, the Clark family will remain in the corporate layout though, more than likely, their shares will amount to less than 50%.