Private equity firm hopes to breathe life into Pacif - leatherbiz: Lea Leatherbiz

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Private equity firm hopes to breathe life into Pacific's footwear brands

19/11/2014
Australian clothing group Pacific Brands has sold its footwear and outerwear businesses – including leather shoe brand Julius Marlow – as well as exclusive licences for Clarks and Hush Puppies in Australia to a local private equity firm.

Anchorage Capital Partners says it has “developed a comprehensive rejuvenation plan” for the businesses, under an umbrella group which reported a loss of $22 million in 2013-2014.

“The divestment represents good value to our shareholders for an unprofitable division,” said Pacific’s CEO, David Bortolussi.

Anchorage managing director Simon Woodhouse added: “The business has an enviable brand portfolio and we believe that with the right focus and investment we can establish Brand Collective as the leading house of brands in the Australasian region.”

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