Superhouse Ltd, a Kanpur based shoe maker, which owns leather brands like Allen Cooper and Double Duty, has acquired 100 per cent stake in UK-based Briggs Industrial Footwear Ltd for $2.31 million.
Located in Leicester, Briggs Industrial Footwear is a family-owned business engaged in manufacturing personal protective equipment (PPE) such as gears for head protection, hearing protection, eye & face protection, respiratory protection, hand protection, as well as work wear, weather wear and high-altitude work gear. The company markets its products under brand names like Himalayan, Toesavers, Proforce, Dr Martens, Caterpillar and Timberland.
The Superhouse group, which has an annual turnover of Rs 400 crore, manufactures finished leather, leather products, textile garments and safety wear, and exports to countries like France, Germany, Holland, Australia and South Africa. The deal will help the Kanpur shoe maker expand in the saftey wear segment.
Aminsons Leather Finishers Pvt Ltd, the parent company of Superhouse, was founded in 1980 and, it went public in 1984. Thereafter, five group companies – Super House Ltd, Super Garments Ltd, Sharp Leathers Ltd, Super Footwear Ltd and Allen Shoes Ltd – were merged with Aminsons Ltd and the name of the company was changed to Superhouse Ltd in 2006.
The other Indian leather and footwear maker that made an overseas acquisition is Tata International Ltd, which, in 2010, acquired 76 per cent stake in Ranipet-based Euro Shoe Components Pvt Ltd for an undisclosed amount. In the same year, Tata International also acquired 76 per cent stake in Chennai-based Bachi Shoes India Pvt Ltd, a footwear manufacturing company, for an undisclosed amount.