Faith Shoes acquired by Bridgepoint Capital
Faith Shoes, a well-known British high fashion brand, has been acquired by Bridgepoint Capital in a transaction totalling £64 million ($123.8 million).
The business currently operates 67 stores and 120 concessions nationwide, generating annual net sales of £73.5 million. Bridgepoint has plans to extend the brand’s presence further still. “Faith is already a well-established brand with an experienced management team capable of rolling the business out further,” said director of Bridgepoint, Jason McGibbon.
Founded in 1964 by Samuel Faith, the company was under the ownership of his son, Jonathan, until this acquisition. Jonathan Faith will now exit the business completely. The company will be led by chairman, Roland Denning, managing director, Jacqueline O’Neill, finance director, Lindsay Dunsmuir, buying director, Mel Serpen, and retail director, Paul O’Neill.
