Nero Bianco Group, owner of Club Chaussures, has acquired Panda, which operates 21 toddler shoe stores in Quebec.
The Quebec company Panda has specialized in selling shoes for toddlers since 1947.
With this important addition, Nero Bianco Group increases the number of its branches to 55.
Panda’s approximately one hundred employees will retain their positions and seniority.
Despite the upheavals in the industry, the president of the Nero Bianco Group reiterates that it is rare for a Quebec company to buy another company here. Even in a difficult environment, demand for children’s shoes remains quite stable.
“We are proud to ensure the sustainability of Panda, a company that has grown with Quebec families for four generations and that fortunately remains 100% Quebec owned,” explains Jean-François Transon.
For customers, this transaction will result in an improved in-store footwear offering, both at Panda and Club Chaussures.
Every business should retain its identity. However, coexistence is expected in certain markets, where a panda boutique could be set up in a shoe club.
New stores and new brands could also be added, particularly in Chicoutimi and the Bas-Saint-Laurent region.
Founded in 1984, the Nero Bianco Group has its headquarters and distribution center in Sainte-Catherine-de-la-Jacques-Cartier.
The total cost of the acquisition was not disclosed.
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