Shoe Carnival Acquires Rogan's Shoes and Announces Full Year Fiscal 2023 Preliminary Results
Acquisition Expected to Generate Over $10 Million in Operating Income Post Integration Completion
Provides Market Leadership in Wisconsin and Expands Retail Store Presence into Minnesota
Shoe Carnival, Inc. (NASDAQ:SCVL) (the "Company") announced today that it has acquired Rogan Shoes, Incorporated ("Rogan's"), 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, subject to further adjustments, and funded entirely with cash on hand.
The acquisition is expected to be immediately accretive to the Company's fiscal 2024 earnings and generate approximately $84 million in sales and approximately $1
