SHOE DEAL: Footwear firm Charles David of California Inc. has been acquired by New York Transit Inc. for an undisclosed amount, according to The Sage Group, Charles David’s financial adviser. New York Transit’s portfolio of footwear brands include Ann Marino, Will-Rich, Taryn Rose and Adrienne Vittadini. It also has sourcing networks in Asia and Europe. Charles David was founded in 1987 by Charles Malka.

According to Sage, the acquisition by New York Transit will help accelerate the growth of the company, as well as add new categories and enhance its distribution.

This story first appeared in the December 11, 2013 issue of WWD. Subscribe Today.