Rigby & Peller sells majority stake in business
Rigby & Peller, the upmarket lingerie retailer, has sold a majority stake in the business to Belgian quoted company Van de Velde.
The family owned company, which holds a Royal Warrant to Queen Elizabeth II, sold an 87% share of the business leaving the Kenton family with a minority 13% holding.
Speaking on behalf of her family, June Kenton said: “It was important for us to choose a company that shared the same values and vision as Rigby & Peller. Our staff and customers rely on us to deliver high standards in product and service. It is a privilege to sell the majority stake to Van de Velde, who like us, are a family oriented company and appreciate the value of heritage whilst looking to the future for growth and success. Our entire team at Rigby & Peller are looking forward to working with them.”
Established in 1939 Rigby & Peller was acquired in 1982 by June and Harold Kenton. With seven stores, a made-to-measure business and online offering, website. the business achieved a turnover of £10.1 million in 2010.
The company has fans worldwide including a number of celebrities including Gwyneth Paltrow, Stella McCartney and Leona Lewis.
Commenting on the acquisition, CEO of Van de Velde Ignace van Dooselare said: “I am delighted to announce the purchase of Rigby & Peller. It is our intention to work closely with both the Kenton family and the existing management team, to invest and grow Rigby & Peller both in the UK and internationally.”
Started in 1919, Van de Velde designs and manufactures a range of luxury lingerie brands including Marie Jo, Andres Sarda and Prima Donna that are well known to the UK consumer.
Following the sale, June Kenton and her son David will continue to be members of the Rigby & Peller Board.
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