Dated February 2008

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 shoe 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. We believe with our experience and expertise in bringing new and under performing products to market, we are perfectly positioned to develop the 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”.

About photograph:
Left to right: Tony Palmer - Manager of the footwear components division of Phipps & Co (now with A. Algeo Ltd), Wendy Jones - Director of Phipps & Co Textile Products Limited , Alan Sheridan - Chairman of A. Algeo Ltd.