A.Algeo Ltd Acquires Sock Division of Phipps and Co.

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A.Algeo Ltd has purchased the insoles (socks) division of Phipps & Co - recognised suppliers of footwear components and findings to the UK shoe industry. A.Algeos hope the deal will see them expand on the company's footwear capabilities.

A.Algeo Ltd has purchased the insoles (socks) division of Phipps & Co of Northampton in a move by Algeos to expand on the company's footwear capabilities.

Phipps & Co has been a recognised supplier of footwear components and findings to the UK shoe industry.

The business has handed over this section of their company to A.Algeo Ltd who are confident they can improve and grow existing footwear capabilities.

A.Algeo Ltd is the UK's leading supplier of machinery and materials for manufacturers of orthotic and prosthetic devices. They supply the orthopaedic and bespoke trade with a wide range of materials and components such as leather and coverings, soling materials and component fastenings.

Commenting on the deal, Algeos Chairman Alan Sheridan stated: "The acquisition of the socks division of Phipps & Co is a promising venture for both Algeos and Phipps & Co and we look forward to the challenge of undertaking a new divison and monitoring its impact on the industry. We are constantly looking to grow our business, and believe with our experience and expertise in bringing new and under performing products to market, we are perfectly positioned to develop the Phipps division.

The deal is also beneficial for our company as we now have greater scope to supply our established markets of bespoke and orthopaedic footwear, with custom products manufactured to specification."

Notes:

Algeos (A. Algeo Ltd) is the UK's leading supplier of Orthopaedic and Podiatric materials, machinery and components. The Algeos business covers a wide range of specialist medical professions including: Bespoke footwear, Orthotics, Diabetic Footcare, Podiatry, and to a lesser extent Physiotherapy and Occupational Therapy.

Please visit our website for supporting information at http://www.algeos.com.

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MARC CAMERON
A.Algeo Ltd
+44(0)151 448 1228
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