New & Lingwood acquired by POP Capital
New & Lingwood, the 150-year-old luxury Jermyn Street menswear brand, has been sold to US private equity house POP Capital for an undisclosed sum.
POP Capital will become the new custodian of the New & Lingwood stable of brands that includes Bowring Arundel, Poulsen Skone and WV Brown. It will also lead the company in a new growth phase.
New & Lingwood was founded in 1865 to initially serve as outfitters for the boys of Eton College. Its main store opened in Jermyn Street in 1922 and the company’s product offering now includes bespoke and ready-made shirts, suits and hosiery as well as a range of shoes.
The previous owner, South African entrepreneur Anthony Spitz, will remain as chairman of the operating company following the acquisition. Spitz’s family interests will also maintain a minority stake in the new holding company.
New & Lingwood was advised by Cavendish Corporate Finance which previously led on the sales of brands such as Naked Wines, Watches of Switzerland, Mappin & Webb.
