American Exchange Group acquires Aerosoles
American Exchange Group announced on Wednesday the acquisition of the assets of luxury comfort footwear brand, Aerosoles.
As part of the acquisition, the two companies will expand distribution channels and introduce Aerosoles to new categories and audiences.
"This acquisition marks an exciting new chapter in the evolution of American Exchange Group. We look forward to supporting the future growth of this brand and are excited to welcome Aerosoles into our brand portfolio,” said Alen Mamrout, chief executive officer of American Exchange Group.
American Exchange Group said it aims to elevate Aerosoles mission for broader commercial opportunities in distribution. Next, it will add additional categories to Aerosoles to drive significant growth opportunities.
"Our strategy is to have the Aerosoles brand function as a separate division to ensure the focus on the core brand DNA that has made Aerosoles such a great name in the footwear category. We are pleased that the team from Aerosoles will be joining our organization to execute our vision,” added Steve Velasquez, chief strategy officer.
Aerosoles first filed for Chapter 11 bankruptcy protection and reorganization in September 2017, filing in the U.S. Bankruptcy Court for the District of Delaware. According to the filing, the company had listed assets of $10 million to $50 million and liabilities of $100 million to $500 million at that time.
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