Steven Madden Buying Canadian Business

New York-based Steven Madden Ltd. is buying its privately held Canadian licensee in an effort to strengthen its presence in the growing Canadian market, reports Crain’s Business New York. The deal involves Steve Madden Canada Inc., Steve Madden Retail Canada Inc., Pasa Agency Inc. and Gelati Imports Inc, which market Steven Madden products at the wholesale level and in seven Steve Madden stores.

The transaction is priced at about $29 million, which could be adjusted for working capital.