AI Issue 8 2017

Acquisition International - August 2017 5 News: from around the world The ALDOGroup to Acquire Camuto Group The Camuto family will continue to own and operate the apparel businesses. Camuto Group is known for its ability to design, develop and distribute lifestyle brands and is well-established as a leader in the North American market. As part of the ALDO Group’s continued expansion, this acquisition will significantly increase both companies’ capabilities and reach, and enhance their ability to offer the widest selection of footwear, handbags, and accessories through all channels, including owned stores, franchise, online and wholesale. David Bensadoun, the ALDOGroup’s chief executive officer, said “We’re thrilled to have found a partner that has the skills and infrastructure required to support our vision. Both of our companies are heavily product oriented, and they each evolved in different ways. While the ALDO Group comes from retail and has focused on international expansion, Camuto Group is an expert in wholesale and a powerful player in the US market. We are very excited about the ways the two organisations can help each other grow, leveraging each other’s strengths.” Based in Greenwich, Connecticut, Camuto Group is a privately-owned leading organisation, founded by fashion industry icon Vince Camuto. “A huge part of our attraction to the Camuto Group is an understanding of their amazing design skills, excellent distribution network, and sourcing capabilities. We also believe the ALDO Group’s broad international and cross-channel experience will unlock Camuto Group’s global potential. This is the perfect combination to drive long-term, sustainable growth and strengthen our overall platform” continued Bensadoun. Alex Del Cielo, Louise Camuto, and the executive team have led the company through a period of steady growth. Del Cielo will remain in his role as chief executive officer of Camuto Group and will report to the ALDO Group’s executive officer. “ We are excited to become a part of the ALDO Group family”, stated Del Cielo. “After our first meeting, I immediately felt the synergy between the two organisations. Camuto Group and the ALDO Group share the same ethics, values and approach to business. We are strongly committed to our people, our partners, our customers and our product. We look forward to serving the global consumer as a unified team and continuing to grow together.” The ALDO Group will preserve Camuto’s autonomy, each brand’s identity as well as retaining key talent, ensuring for a smooth transition. “After spending time with Alex Del Cielo and his leadership team, we quickly recognised that we share similar values and strategic vision. This is a perfect fit. One family business is acquiring another family business and from the very first meetings, we could feel a very similar culture,” mentioned Bensadoun. For more information, visit www.camutogroup.com The ALDO Group Inc., a world-leading creator and operator of desirable footwear and accessory brands, announced on Aug 02, that it has entered an agreement early this month to acquire Camuto Group’s footwear and accessories businesses. The board of Empiric Student Property plc, the owner and operator of premium student accommodation across the UK, recently announced that the group has exchanged contracts to acquire the freehold of the Hahnemann Building in Liverpool for £10.8 million (excluding costs). The acquisition is expected to complete in October 2017. The Hahnemann Building is a Grade II listed building within an established student area in Liverpool. The property was originally Liverpool Hahnemann Hospital and has been converted into a high specification student accommodation scheme comprising 98 studios, with communal space. The property is on Hope Street, which connects Liverpool’s two iconic landmark cathedrals, situated in a World Heritage Site Buffer Zone, close to the city centre and within easy reach of the main railway station, Liverpool Lime Street. The Hahnemann Building is adjacent to John Moores University and is ten minutes’ walk from the central academic facilities of the University of Liverpool. The scheme was completed for the 2016/17 academic year and was fully let under the management of CRM. Lettings are progressing well for the 2017/18 academic year and Hello Student® will take over the management of the accommodation from completion, marketing it alongside the group’s six other Liverpool assets, which are near and serve the University of Liverpool. Liverpool has the 8th largest student population outside of London with over 46,000 full-time higher education students in 2015/16 (latest available HESA data). Paul Hadaway, chief executive of Empiric Student Property plc, commented: “The Hahnemann Building is our seventh acquisition in Liverpool, expanding the group’s presence in the city to 480 beds, serving 1% of Liverpool’s vibrant student population. The University of Liverpool attracts 32% of its full- time students from international backgrounds and has experienced strong international and postgraduate growth in recent years. This acquisition is in line with Empiric’s investment criteria and returns profile.” Empiric to Acquire Student Accommodation Scheme in Liverpool NEWS / From Around The World