Who owns Dexter Shoe Company?
| Harold Alfond | |
|---|---|
| Occupation | Founder of Dexter Shoe Company and philanthropist |
| Known for | First factory outlet store |
| Spouse(s) | Dorothy Levine ( m. 1943; died 2005) |
| Children | Ted Alfond Susan Alfond Bill Alfond Peter Alfond |
Where did Dexter shoes originate?
Maine
In 1958, Harold Alfond purchased a vacant woolen mill in Dexter for $10,000 and Dexter Shoe Company was born. In 1971, when Harold Alfond pioneered the factory outlet store at Dexter Shoe’s Skowhegan, Maine plant, the company became one of the first manufacturers in the nation to retail its own product.
When did Dexter shoes go out of business?
2001
Dexter was founded in 1956 by Harold Alfond, and at its height employed more than 800 people. It was purchased by Warren Buffett in 1993 for $433 million in stock and closed in 2001; Buffett has since called the investment “ the worst deal” of his career.
Why did Dexter shoes go out of business?
Warren Buffett’s “most gruesome mistake” was buying Dexter Shoe in 1993, a Maine shoemaker that soon collapsed under pressure from cheap foreign imports. The famed investor paid for Dexter with 25,203 Class A shares in Berkshire Hathaway, worth about $8.7 billion today.
How much did Dexter shoe sell for?
Warren Buffett Comes Calling In 1993, Harold Alfond agreed to sell the Dexter Shoe Company to Warren Buffett. The price tag was $443 million.
How much is the Alfond family worth?
The richest person in Maine is worth nearly $2 billion, according to Forbes. Susan Alfond, 73, of Scarborough, has an estimated net worth of $1.7 billion, the magazine reported. Alfond and her three siblings inherited their father’s fortune. Harold Alfond founded Dexter Shoes in 1958.
Where do the Alfonds live?
Harold and his wife, Bibby, divide their days between homes in Waterville, Maine and Palm Beach, Florida. In both states, his extraordinary business achievements are familiar to many.
What shoe company does Warren Buffett Own?
Brooks has been owned by Buffett since 2006 and has seen strong growth by narrowing the focus to specialty running. In 2012, Brooks introduced the first Buffett shoe, an Adrenaline GTS with a caricature of the billionaire crossing a finish line printed on the insole.
What shoe company does Berkshire Hathaway own?
Berkshire’s footwear businesses include H.H. Brown Shoe Group, Acme Boots, Brooks Sports and Justin Brands. Justin Brands is made up of Chippewa Boots, Justin Boots, Justin Original Workboots, Nocona Boots, and Tony Lama Boots. Berkshire acquired Fruit of the Loom on April 29, 2002, for $835 million in cash.
What is Harold Alfonds net worth?
By the time Harold Arnold died in 2007, a single Class A share was worth $140,000 which meant his stake was worth $3.5 billion. Today the shares sell for $170,000 a piece which means his stake is worth $4.25 billion.
Where is Dexter Shoe Company located?
Dexter, Maine
Dexter makes athletic and casual shoes for men and women at its headquarters in Dexter, Maine, and at its facility in Puerto Rico.
Who is the wealthiest person in Maine?
Susan Alfond Net Worth – $ 1.2 Billion The incredible fortune, which they inherited from her father has significantly grown to over $1.1 Billion which makes Susan Alfond the richest person in Maine.
Where did Dexter shoes come from?
In 1956, Alfond left, purchased an old woolen mill in Dexter, Maine, and founded Dexter Shoe Company. There, he produced shoes for the private label catalog market, supplying stores such as Sears, JC Penney, Spiegel, and Montgomery Ward & Co..
Who was the founder of Dexter&Company?
With his brother-in-law, Edwin Douglas, a noted engineer, C. H. Dexter reorganized the business under the name C. H. Dexter & Company in 1847. When Douglas left, Dexter continued to operate the company alone. C. H. made the company self-sustaining, while simultaneously helping to increase his hometown’s water power and industrial versatility.
Who is the owner of the dexter baseball team?
Alfond was the obvious choice and ever since Dexter has been a limited partner in the franchise. When Dexter was sold to Berkshire Hathaway in 1993, the Alfond family retained its stake in the team, a stake that remains in the hands of two of his sons.
When did Dexter go public?
In 1967, on its 200th birthday, the Dexter Corporation offered its shares to the public. With this new capital, the company embarked on a path of mergers and acquisitions. In November of 1967, the company merged with Hysol Corporation (currently a division of the company).
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