Aries Capital Group announces agreement to acquire Track 'n Trail.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Jan. 12, 1996--Aries Capital Group Inc. announced that it had entered into a definitive agreement to acquire all of the company stock of Track `n Trail, the nation's leading specialty retailer of outdoor and adventure footwear. Terms were not disclosed. The agreement is subject to customary conditions. Track `n Trail, with headquarters in El Dorado El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. Hills, Calif., sells prominent branded and private label walking, hiking hiking Walking, often among hills or mountains, as recreational sport. It represents an activity in its own right and also figures in backpacking, camping, hunting, mountaineering, and orienteering. and other outdoor footwear in 81 mall locations throughout the country. 1995 sales were in excess of $50 million. Track `n Trail's best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best brands include Timberland, Birkenstock, Airwair, Vans, Teva, Clark's, Airwalk and Rockport. The company was formed in 1979 and has remained a family-owned company since that time. James Argyropoulos, one of the principals of Aries Capital Group, was the founder and, until its acquisition in 1989, chairman of Cherokee Inc., a manufacturer, marketer and licensor of footwear and apparel. Argyropoulos is currently chairman of The Walking Co., a fast-growing, 22 store specialty lifestyle retailer of walking and hiking footwear, accessories and apparel. Said Argyropoulos, "We are very pleased with this acquisition. Track `n Trail has a superb management team, a strong franchise with great mall locations and the potential to become the dominant national outdoor footwear retailer. We expect that ultimately Track `n Trail and The Walking Co. will be held under common ownership and will combine certain operating functions as well. We believe that Track `n Trail and the Walking Co. together will be well-positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the continued, long-term trend toward health-oriented, outdoor activities." Aries Capital Group is a private investment firm that makes equity investments in established middle market and, to a lesser extent, late stage venture capital companies. Aries focuses on transactions ranging from leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. to restructurings to substantial private equity investments. CONTACT: Aries Capital Group Inc. Steven F. Mayer, 310/996-9597 310/996-9590 (fax) or The Walking Co. Steven Adler Steven Adler (born January 22, 1965 in Cleveland, Ohio) is an American rock drummer. He is most famous for his tenure as a member of the hard rock band Guns N' Roses, with whom he performed and recorded from 1985 to 1990. , 805/650-2620 805/650-7244 (fax) |
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