DSW acquires interest in Town Shoes

On May 12, 2014, DSW Inc. (DSW) closed its initial acquisition of an interest in Town Shoes Limited (Town Shoes), the largest footwear and accessories retailer in Canada, for C$75.5 million (US$68.7 million) in cash.

Pursuant to the terms of the purchase agreement dated April 14, 2014, DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders. DSW's initial interest provides it with 50% voting control of Town Shoes and board representation equal to the primary remaining shareholder, Callisto Capital.

Town Shoes is the largest specialty retailer focused on branded footwear products in Canada with 182 stores nationwide.

DSW is a leading branded footwear and accessories retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear and accessories for women, men and kids.

AIMCo is one of Canada's largest and most diversified institutional investment fund managers with assets under management of approximately $80 billion.

Callisto is a Toronto-based middle market private equity firm that creates value for its institutional investors by partnering with high potential enterprises.

Further information can be found on DSW's website.