Liberty owner BlueGem sells stake in company
BlueGem, the private equity firm which has fully owned iconic London department store Liberty since 2010, has sold an undisclosed stake in the company to “some prominent and well established international families from Europe and the Middle East”, a statement from Liberty said. BlueGem remains the majority shareholder.
The company said: “These investors are long-term oriented and provide the company with significant stability of capital and a relevant network in the industry. BlueGem has retained a sizeable investment in the business and will continue to manage and support the company and the management team in the next stage of development.”
For its end of year closed 1st February 2014, the company reported a 7% increase in sales to 124 million pounds with unaudited EBITDA for the period is coming in at 17.5 million pounds.
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