Sentinel staff report–
Bearpaw Holdings LLC, a global footwear company headquartered in Citrus Heights, announced its acquisition of Flip Flop Shops last week.
The acquisition marks another step in Bearpaw’s expansion, with the company announcing its move into European markets last year and the 12,000-square-feet corporate headquarters at Sylvan Corners recently completing its own expansion and remodel.
From 2017: Citrus Heights-based footwear company plans big expansion in Europe
“As everyone knows, Bearpaw is a winter brand, and we are now making a move into the summer-spring market,” Bearpaw founder Tom Romeo told The Sentinel in an interview. “Where they’re strong we’re weak, where we are strong, they are weak.”
Flip Flop Shops was founded in 2004 and has grown to 59 locations globally, focusing on casual footwear and flip flops. The company’s closest store is currently in the Galleria at Roseville.
Romeo said the local Bearpaw outlet store at Sylvan Corners, currently closed for remodel, will be re-branded as “Bearpaw & Co.” and will re-open later this year with the right side of the store featuring Bearpaw items and the left side featuring Flip Flops. He also plans to expand Flip Flop Shops to 100 stores in the next 12-18 months, and 500 stores in the next five years.
The price of the Flip Flops Stores acquisition was not publicly disclosed.
The Bearpaw brand was founded by Romeo in 2001, with the company’s shoes and apparel now found at U.S. retailers like Macy’s, Designer Shoe Warehouse, and other chains. Items are also sold directly from the company’s website and its local outlet store at 7034 Sylvan Rd.