Mishcon de Reya has advised Tim and Julia Little, shareholders of British shoemaker, Grenson, on the sale of a 100% stake to sportswear brand Castore.
Founded in 1866, Grenson supplied boots to British soldiers during both world wars. Tim and Julia acquired their stake in Grenson in 2010, and Grenson has continued to embrace its heritage and focus on quality design to constantly innovate and create contemporary and iconic luxury footwear.
Castore is a premium sportswear brand, whose acquisition of Grenson forms part of their continued growth and wider expansion in the premium consumer market.
The Mishcon de Reya team was led by Daniel Goldsborough, Partner in the Corporate team and Associate Thomas Hurley and Trainee Charlotte Lowe in the Private Equity team. Margarita Elia led on Employment aspects of the deal.
Daniel Goldsborough commented: “We are delighted to have delivered this exit for Tim and Julia. They took over the business in 2010 and while cherishing Grenson's amazing heritage they have worked tirelessly to continuously innovate and evolve the business. It was a privilege to advise them both and to help them achieve this thoroughly deserved reward for all their hard work. Congratulations to Castore they've acquired an iconic British brand that I'm sure they will take from strength to strength."
Tim Little commented: “For me this deal was the culmination of 16 years of building the brand and finding the right people to take it on into the future. The Mishcon team were the perfect people to lead me through what for most people is a once in a lifetime process and they were a dream to work with. They were extremely thorough but also calm when the inevitable twists and turns appeared. I felt completely safe in their hands."