Shoe Carnival Buys Another Shoe Retailer
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Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) has purchased Shoe Station Inc, a privately held shoe retailer headquartered in Alabama. Shoe Carnival says it has acquired substantially all the assets of the family-owned business for $67 million.
Shoe Carnival says the acquisition is its first in company history.
“We are excited to welcome Shoe Station to the Shoe Carnival team,” said Mark Worden, Shoe Carnival’s president and chief executive officer. “Coming on the heels of our best quarter of our best year in our 43-year history, this deal accelerates our journey toward becoming a multi-billion-dollar retailer in the years ahead.”
Shoe Station operates 20 stores in five states in southeastern United States. Before the purchase, Shoe Carnival operated 377 stores in 35 states.
Shoe Station’s current president and CEO, G. Brent Barkin, will become senior vice president for new business development & Integration. He’s been with the Alabama company for over 20 years.