Old Mutual Private Equity acquires Footgear.

Old Mutual Private Equity(OMPE), a leading private equity firm in South Africa, has acquired majority stakes in Footgeat, a South African retailer of branded footwear. Financial terms were not disclosed. In addition to being a strategic partner to the management team who hold the remaining shares, OMPE will also provide capital to support the growth of the Footgear business. "We are culturally and commercially aligned to Footgear’s high-quality management team and are proud to back a team that has a long and successful track record.” Chumani Kula, OMPE Investment Principal.