Gordons successfully advises shoe retailer Pavers on Herring Shoes acquisition
Monday 6th August 2018
Gordons has successfully advised long term client shoe retailer Pavers on its acquisition of Herring Shoes, a premium online shoe retailer based in Devon.
Corporate partner Duncan Firman led the team, which included corporate solicitor Stephanie Houghton and commercial property solicitor James Kimberley, that provided Pavers with legal advice on the transaction.
Commenting on the deal, Stuart Paver, managing director of York-headquartered Pavers, said: “Herring Shoes is an incredibly successful business and has focused on internet and international sales. The business has been family owned since 1966 and operates with many of the same values as we do here at Pavers.
“These similarities made the acquisition incredibly appealing to us. It allowed us to break into new areas of the footwear market while staying true to our family values and high standards of customer service.
“Herring Shoes will be run separately to Pavers allowing it to continue its exciting growth trajectory via online and both in the UK and abroad. The existing Herring team will continue to operate the business from Devon – the only difference is they are now part of the Pavers family.”
Duncan added: “Stuart and the senior management team at Pavers have a clear strategic growth plan, and we are very pleased to play our role in helping them through the Herring Shoes acquisition. We have every confidence this latest addition to the business will prove to be tremendous success as Pavers continues to expand and evolve.”
Pavers was provided with financial and tax advice on the transaction by a BHP Corporate Finance team, led by David Forrest and Declan Savage.