Alberta Investment Management Corporation has partnered with Callisto Capital to make an investment that will provide them with a controlling interest in Town Shoes Limited, Canada's leading branded specialty footwear retailer. The founding Simpson family is retaining a significant continuing interest in Town, and the company will continue to be led by Alan Simpson and his talented management team. The investment by Callisto and AIMCo will provide Town with the capital to fund the next stage of its growth.
Callisto Managing Director, Lawrence Stevenson said, “Callisto is fortunate to have this opportunity to invest in a leading Canadian retailer, which has an enviable real estate portfolio, excellent relationships with the leading branded footwear suppliers and an energetic management team. Our investment will provide the capital needed to aggressively grow this outstanding company.”
“We are excited to support the growth of a successful Canadian retailer building on the life's work of Leonard Simpson, an inspiring Canadian entrepreneur who opened his first Town Shoes store in 1952 and will continue to serve as Town's Honourary Chairman,” added Edward Rieckelman, AIMCo VP Private Equity.
Alan Simpson, CEO of Town said, “We are very excited about our new relationship with Callisto and AIMCo. They will bring a new level of expertise and financial backing that will allow Town to continue to invest in new stores and new technologies and further enhance Town's leadership position as one of Canada's most successful retailers.”
Town Shoes Limited is the largest specialty retailer focused on branded footwear products in Canada with 116 stores across Canada. Town also operates under The Shoe Company banner, which offers a wide selection of branded footwear for the whole family at attractive prices. Town is based in Toronto, Ontario.
