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The Gap Partnership

The Jones Group in need of negotiation consultants?

Kurt Geiger has been taken over by the Jones Group.

02 June 2011

The Jones Group will be employing some merger and acquisition consultants as it puts the finishing touches to its takeover of Kurt Geiger.

As Europe's largest luxury shoe retailer, Kurt Geiger - which is based in the UK - will cost approximately $350 million (£215 million) for the American apparel giant.

Wesley Card, the Jones Group chief executive officer, said: "This transaction is about pursuing opportunities to optimise our portfolio and establishing a strong foothold in Europe."

He added the purchase is "consistent" with the company's current strategy as it looks to acquire organisations that have "best-in-class talent".

A number of negotiation strategies may be implemented as the deal is completed, as the Jones Group - which was created in 1970 - seeks to turn itself into a world leader in fashion.

Neil Clifford, Kurt Geiger chief executive officer, said he was confident the agreement was right for the future of his company.

Posted by Ron Maverick
 

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