C&J Clark Limited, a UK-based shoe manufacturer and retailer, has confirmed that its proposed partnership with LionRock Capital announced on November 4, 2020, has been approved by Clarks’ shareholders. LionRock Capital is a seasoned private equity fund and seeks to partner with leading global consumer brands with an emphasis on China expansion.
The shareholder approval will enable Clarks to form a partnership with LionRock Capital, who will acquire a majority stake in the business for an investment of £100 million.
The deal is expected to be completed in the new year with the Clark family remaining invested in the business.