Hannahs & Number One Shoes – sale to Allegro Funds
Miles Advisory Partners advised the Board of Directors of ASX-listed Bapcor (owner of Hellaby Holdings) on their sale of Hannahs and Number One Shoes to Allegro Funds.
Transaction Details
Sector
Consumer
Miles Role
Sell-side advisor to the Board of Directors of Bapcor
Deal Type
Business Divestments
Year Completed
2018
Contacts for this Transaction
Rohan Manikath
Managing Director
Overview
- Hellaby Footwear Group is New Zealand's (NZ) largest footwear retailer, comprising two well-recognised brands, Hannahs and Number One Shoes, spanning the mid-price and value segments
- Hannahs, established in 1868, is one of NZ's oldest footwear retailers, offering mid-price, internationally recognised brands across women's, men's and children's
- Number One Shoes is a value-oriented, big-box retailer selling affordable, predominantly own-branded footwear
- Combined, the businesses operate over 100 retail stores across NZ
- The group was owned by ASX-listed Bapcor Ltd, for whom footwear is non-core, providing the rationale for divestment to Allegro Funds, a specialist turnaround private equity firm
Further information on this transaction is available at: Hannahs & Number One Shoes / Allegro Funds AFR Article
