Cath Kidston has confirmed it has been bought by TA Associates as it lays out plans for international expansion.
Founder and creative director of the homewares and fashion retailer, Cath Kidston, will retain a “substantial” stake in the business and will continue to be “fully involved” in her current role.
The retailer’s senior management will also continue to hold a “significant” stake.
The retailer has not revealed how much TA Associates paid for the business but it is thought the private equity firm shelled out around £100m for its majority stake.
Cath Kidston said TA Associates “expertise and international reach” will help Cath Kidston to “take the business to the next stage of its development”.
She added: “We now have the necessary partner in place to expand the brand internationally in Asia and other markets whilst enhancing our core offer in the UK.”
Cath Kidston operates 28 shops and concessions in the UK, and two shops in the Republic of Ireland, as well as seven in Japan and one in Kuwait.
Chris Parkin, a principal of TA Associates who will join the company’s board of directors, said: “Cath Kidston’s distinctive British lifestyle brand commands a loyal following both in the UK and internationally.”
Jeffrey Barber, a managing director of TA Associates who will also join the company’s board, said: “This increasingly global company is well-positioned to capitalise on its unique branded products and design aesthetic to continue to grow rapidly worldwide.”