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Amery buys Oliver Sweeney, famous footwear brand
10
Jun '09
Oliver Sweeney, the famous British footwear and accessories brand, has been acquired by Amery Capital Ltd from Ross Connock and Rob Lewis of PricewaterhouseCoopers LLP, who were appointed administrators to Oliver Sweeney Limited after the business became insolvent.

Amery Capital has acquired Oliver Sweeney through a new company, McFL Trading Limited in partnership with footwear manufacturer Tim Cooper, founder of OPS Ltd and distributor of Steve Madden Europe.

Oliver Sweeney brand enjoyed sales of £6m worldwide in 2008 and Oliver's shoes enjoy a strong following from men of discerning style including: Brad Pitt, Will Smith, Noel Gallagher, Trevor Nelson, Paul Weller, Peter Jones, Jay Kay, Kaiser Chiefs, Ian Wright, Lewis Moody, Austin Healey, Martin Johnson and Dylan Jones.

Oliver Sweeney will continue to operate on line at www.oliversweeney.com and from its stores in Bond Street, City and Leeds Victoria Quarter, as well as being available in Harvey Nichols and from other leading footwear stores around the world.

Amery Capital was founded by Maurice Helfgott in November 2004 with the backing of legendary retail entrepreneurs, Michael and Maurice Bennett and focus on investment and advisory activities in retail and consumer related businesses. Oliver Sweeney will join Amery Capital's growing family of investments, which includes Long Tall Sally and Retail Profile , as well as a minority position in Kookai UK.

Oliver Sweeney has been trading in specialist luxury footwear for 19 years and following the investment by Amery Capital, the company has plans to develop the product range for international and direct sales.

Oliver Sweeney said: "I am thrilled to continue to design Oliver Sweeney shoes and accessories. My ethos has always been authentic, well-made, comfortable shoes, with wit and originality. I regret that the effects of my stroke have made it extremely difficult to manage the company during the current economic period, but I am delighted that in Maurice and Tim I have found people who understand and respect my brand values and have the commercial acumen, product experience and the capital to ensure that the brand succeeds in a new company. I have every confidence in their ability to take my brand forward and I look forward to giving them every support in developing the business."

Ross Connock, Joint Administrator and Director at PricewaterhouseCoopers LLP said: “We are delighted to announce the sale of the business and assets of Oliver Sweeney Limited which secures a future for the brand and employment for more than 20 people. This has been a challenging time for employees and we are grateful for the support that has enabled us to achieve this sale.”

Maurice Helfgott, Director, Amery Capital, said: “I have been an admirer of Oliver's shoes for almost 20 years and am very pleased to be able to invest behind the brand to ensure the success it deserves in the UK and aroundthe world.”


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