Arklyz AG, based in Stans, Switzerland, is set to acquire Lloyd Shoes GmbH, Sulingen. Arklyz and Lloyd Shoes owner AG Ara have signed definitive agreements for Arklyz to acquire the German footwear powerhouse with all its operating subsidiaries. The transaction was unanimously approved by the Board of Directors of both Arklyz AG and Ara AG.
Terms of the transaction were not disclosed.
“Today’s announcement is another strategic milestone for us,” says Param Singh, owner and CEO, Arklyz Group. “This is a unique opportunity to take over one of the most respected and well-known companies in the German shoe industry. Lloyd is already the undisputed market leader in the men’s premium segment in its core European markets, and we look forward to further developing it internationally. Further, there are strong opportunities to grow Lloyd by strengthening its omni-channel presence. I am incredibly happy to welcome Lloyd to Arklyz Group.”
Arklyz Group AG is said to be a fast-growing powerhouse in the arena of sports, lifestyle, and workwear. Arklyz covers a vertically connected set of activities with a special focus on brand management, distribution, retail, e-commerce, and manufacturing. Arklyz owns The Athlete’s Foot, Asphaltgold, Intersocks and several global licenses or wholesale distribution with retail for brands like Salomon, Head, Crocs, Nordica, Adidas, Hey Dude, etc.
“We decided to sell Lloyd to Arklyz, as we believe that with its broad expertise in the lifestyle and footwear sectors, Arklyz is the right owner for Lloyd for its next chapter of growth,” offered Andreas Wortmann, CEO, Ara AG. “We are very pleased that Lloyd will be heading for a new safe harbor after 25 years of ownership by Ara AG, and we wish the entire team continued success.”
“Lloyd aims to become a highly recognized premium footwear and lifestyle brand, globally,” added Andreas Schaller, managing director, Llyod Shoes GmbH. “We have been growing nicely over the last years. Now, together with Arklyz and its expertise, we can further strengthen our omni-channel strategy and expand in the international markets. We are excited about the future as we are looking forward to working with Arklyz and Param Singh.”
The transaction is expected to close in the first half of 2024, subject to customary closing conditions and antitrust approvals. The parties have agreed not to disclose any financial details of the transaction.
Image courtesy Lloyd’s Shoes
