Jones Bootmaker 'set for buyout'

Jones Bootmaker, one of the oldest brands on the British high street, is to be bought by a Dutch firm for around £40 million, it has been reported.

The chain, with more than 80 branches across the UK, has been bought by Maastricht-based Macintosh Retail Group, which plans to combine the business with its shoe seller Brantano, The Sunday Telegraph said.

Jones’s chairman Peter Phillips and chief executive Ken Bartle are believed to be preparing to step down from their roles once the deal is closed, which should happen in April. The other members of the management team will remain.

Mr Phillips and Mr Bartle, along with a small group of private investors, owned 70% of the business, and will share the bulk of the expected windfall from Macintosh.

Jones Bootmaker, which can trace its history back to 1857, will retain its brand name. It aims to open 15 further stores in the UK in the next three years and launch a new website to increase online sales.