Port Shoe Firm Sold; Investors Pay $100 Million for Allen-Edmonds
The Milwaukee Journal Sentinel › July 21, 2006
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Summary
John Stollenwerk, who helped build Allen-Edmonds Shoe Corp. into a leading brand and an example of successful American manufacturing in an industry that largely has migrated abroad, has sold the company to a Minneapolis investment firm.
Goldner Hawn Johnson & Morrison Inc. paid more than $100 million for the Port Washington shoemaker, whose $300 wingtips and bluchers are widely worn by well-heeled businessmen and the last four presidents, said Michael T. Sweeney, managing director of the investment firm.See the full content of this document
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Port Shoe Firm Sold; Investors Pay $100 Million for Allen-Edmonds
That represents a big payday for Stollenwerk, who, according to a 1987 profile, bought Allen-Edmonds with two partners in 1980 for about $1.3 million.
Stollenwerk had owned about 99% of the company's stock. He and company executives will retain about 10%.Stollenwerk will remain as chairman...See the full content of this document
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