Shoe Carnival Acquires Rogan’s Shoes and Announces Full Year Fiscal 2023 Preliminary Results
Feb 13, 2024•almost 2 years ago
Acquiring Company
Shoe Carnival
Acquired Company
Rogan Shoes Incorporated
Fort MillRacineRetailShoesFashionDescription
Shoe Carnival, Inc. has acquired Rogan Shoes, Incorporated, a 53-year-old work and family footwear company with 28 store locations in Wisconsin, Minnesota, and Illinois, for a purchase price of $45 million. This strategic acquisition is expected to be immediately accretive to Shoe Carnival’s fiscal 2024 earnings and will position the company as the market leader in Wisconsin while providing expansion opportunities in Minnesota. The acquisition is funded entirely with cash on hand and is part of Shoe Carnival’s growth strategy to become the nation’s leading family footwear retailer.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed