4th Mar 2020 12:25
(Alliance News) - Oakley Capital Investments Ltd on Wednesday said Oakley Capital Private Equity III has agreed to purchase a majority stake in British luxury luggage brand Globe-Trotter Group Ltd.
The investment vehicle said the stake will be acquired from Globe-Trotter Chief Executive Toshiyasu Takubo who developed the brand "significantly" in the Japanese market. Takubo will retain a minority stake in the company.
Oakley Capital said it will invest around GBP10.6 million through its interest in Fund III but did not disclose the total consideration for the acquisition.
"Globe-Trotter is an iconic British brand and we are delighted to invest in a company with such unique heritage. Oakley believes the brand is well-positioned to become a truly global player in the luxury luggage market and is looking forward to partnering with the team at this exciting stage," said Oakley Capital Managing Partner Peter Dubens.
Oakley Capital shares were trading 0.9% higher at 249.60 pence each on Tuesday in London.
By Ife Taiwo; [email protected]
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