Piper led a£4 million development capital investment in Boden in 1999 and the retailer has since increased sales from£20 million to£150 million. The business also launched in the US, where it now generates sales of US$100 million (£49.2 million).
Piper sold its 5 per cent stake to existing shareholders and the deal was viewed by private equity sources as evidence of the growing appeal of differentiated home shopping companies.
Piper’s Chris Curry said: “Together, we’ve created a stunningly successful international clothing brand with enviable metrics in the world of direct retailing. We intend to build on our knowledge and experience in the sector.”
* Phoenix Equity Partners is understood to be a front-runner to buy into organic food home delivery retailer Abel & Cole, valuing the business at£50 million. A deal is likely within a fortnight.
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