Mamas & Papas has inked a deal with department store Liberty’s owner, private equity firm BlueGem, which is taking a majority stake in the retailer.
The deal is the first time the maternity specialist retailer, set up by husband and wife team David and Luisa Scacchetti, has sold a stake in the firm.
David Scacchetti said it would be working with BlueGem over the next few months to develop a new plan to enable it to accelerate its global expansion plans.
He said: “The directors believe that this is the right step for the company and will help us achieve our aim of becoming the world’s favourite nursery brand. BlueGem are a very well-respected private equity firm and have a great track record of working with expanding businesses such as ours, providing both investment and advice.”
Mamas & Papas has stores in 59 countries and recently revealed plans to roll out 118 stores in China. It also launched a transaction site in the US last year.
BlueGem managing partner Marco Capello said: “We are thrilled to support the Mamas & Papas team in continuing their quest to become the world’s favourite nursery brand. Mamas & Papas has always been a quality, premium brand and a haven for expectant parents.”