Town Shoes Welcomes Investment by AIMCo and Callisto Capital

TORONTO, Feb. 14, 2012 /PRNewswire/ - Alberta Investment Management Corporation ("AIMCo") on behalf of its clients and Callisto Capital ("Callisto") are pleased to announce that they have partnered together to make an investment that will provide them with a controlling interest in Town Shoes Limited ("Town"), Canada's leading branded specialty footwear retailer.  The founding Simpson family is retaining a significant continuing interest in Town, and the company will continue to be led by Alan Simpson and his talented management team.  The investment by Callisto and AIMCo will provide Town with the capital to fund the next stage of its growth.

Callisto Managing Director, Lawrence Stevenson said, "Callisto is fortunate to have this opportunity to invest in a leading Canadian retailer, which has an enviable real estate portfolio, excellent relationships with the leading branded footwear suppliers and an energetic management team.  Our investment will provide the capital needed to aggressively grow this outstanding company."

"We are excited to support the growth of a successful Canadian retailer building on the life's work of Leonard Simpson, an inspiring Canadian entrepreneur who opened his first Town Shoes store in 1952 and will continue to serve as Town's Honourary Chairman," added Edward Rieckelman, AIMCo VP Private Equity.

Alan Simpson, CEO of Town said, "We are very excited about our new relationship with Callisto and AIMCo.  They will bring a new level of expertise and financial backing that will allow Town to continue to invest in new stores and new technologies and further enhance Town's leadership position as one of Canada's most successful retailers."

About Town Shoes Limited

Town Shoes Limited is the largest specialty retailer focused on branded footwear products in Canada with 116 stores across Canada.  Town Shoes stores are located in leading shopping centres and cater to fashionable customers who seek the latest styles from the world's leading footwear brands.  Town also operates under The Shoe Company banner, which offers a wide selection of branded footwear for the whole family at attractive prices.  Town is based in Toronto, Ontario.  For more information about Town, visit www.townshoes.com.

About Alberta Investment Management Corporation

AIMCo is one of Canada's largest and most diversified investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 26 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.

About Callisto Capital

Callisto Capital is a Toronto-based private equity firm that creates value for its institutional investors by partnering with high-potential enterprises. The firm is committed to working with talented management teams to build profitable, industry-leading businesses. Additional information on the firm can be found at www.callistocapital.ca.

SOURCE Alberta Investment Management Corp.