The investors are led by Bill Currie and Sanjay Vadera. Currie founded The Fragrance Shop in 1995, redeveloping the business nationwide before selling it to the Peacock Group in 2004, while Sanjay Vadera is chief executive of Manchester-based fragrance distributor Per Scent.
Their partners in the venture are Icelandic investor Karl Wernersson and Jurek Piasecki, the chairman of jewellery retailer Goldsmiths.
The four directors have funded the acquisition privately, with additional backing from Icelandic bank Glitnir Banki. The investors have formed a holding company to buy the business.
Vadera and Currie will be joint chief executives, and existing managing director Mark Williams will remain. Steve Thompson, previously of Perfume Point, will join as retail director, with immediate effect, and is responsible for the new store opening program.
Vadera said: 'We have a breadth of experience and many complementary skills, so feel we can add considerably to the growth of The Fragrance Shop. We plan to add 12 stores a year and want to expand into high footfall, prestige locations.'
Currie added: 'I am delighted to be back with The Fragrance Shop. It's a great business - we want to have the best people, products, marketing and store design in the industry.'
Nine Perfume Point stores owned by Per Scent are likely to be rebranded as Fragrance Shops.
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