PORT WASHINGTON, Wis. (AP) — Allen Edmonds Corp. says the upscale shoemaker is being sold to a Los Angeles-based private equity firm but will keep its headquarters in Port Washington.
An affiliate of Brentwood Associates will take over the company from Minneapolis-based Goldner Hawn Johnson & Morrison. That private equity firm bought Allen Edmonds in 2006.
The Milwaukee Journal Sentinel (http://bit.ly/HCWh6Q ) reports terms of the transaction weren't immediately disclosed Monday.
As part of the deal with Brentwood, former Goldner Hawn executive Paul Grangaard, who became Allen Edmonds' CEO in 2008 and helped get the company back on track financially, will remain chief executive.
Founded in 1922, Allen Edmonds is one of the few remaining U.S. shoemakers. The company has 1,000 employees, about 450 of them at its headquarters in Port Washington north of Milwaukee.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com