Australasia’s largest privately-owned footwear company makes cash acquisition of highly sought-after Kiwi brand, Bobux.
Thursday, 11 May 2023 – As the custodians of some of Australia’s most trusted footwear brands, Munro Footwear Group (“MFG”) will expand its offering into the children’s footwear market through the strategic acquisition of Bobux. The acquisition offers MFG an opportunity to provide a year-round offering in the baby, toddler, and kids footwear markets alongside its current Back-to-School program.
After 30 years in operation, in April 2023, Bobux announced the toll Covid-19 had on its supply chain, with subsequent overstocking issues forcing the company into receivership. Munro Footwear Group’s Co-CEO, Marcus Bartlett, believes that MFG’s vertically integrated business model, robust supply chain, and extensive ecommerce expertise, alongside Bobux’s existing brand recognition and loyal customer following, will cement the brand as the market leader in their category.
MFG has a proven buy-and-build strategy, having made several significant brand and retail acquisitions over the last decade. With a clear vision for its future, they continue to have an appetite for acquiring strategically aligned brands.
“Through our Styletread business, we’re very familiar with Bobux and know their emphasis on designing innovative, stylish, and comfortable shoes for growing feet. This directly complements our product ethos of quality footwear, without compromising on style or comfort,” says Bartlett.
The acquisition is expected to be finalised by Friday, 2 June. During this time, MFG will continue to work closely with the Bobux business, their factories, and wholesale customers to ensure a smooth transition. The Bobux direct-to-consumer website will remain operational.
MFG’s, fellow Co-CEO, Jay Munro, is genuinely excited about increasing the breadth of the Group’s portfolio in its ambition to become the first choice in footwear for all Australians.
“We have a proven track record of building brands, like our most recent acquisition, Ziera, which has experienced improved performance under our business model. I’m very confident that we will be able to preserve the essence and heritage of the Bobux brand whilst enabling it to reach its full potential,” says Munro
The acquisition was announced on Thursday 11 May, 2023.