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UK PE firm acquires apparel retail chain Jaeger
16
Apr '12
Better Capital, a private equity firm owned by British venture capitalist Jon Moulton, has acquired all of the secured debt and a 90 percent stake in the British fashion retail chain Jaeger Group Limited.

In 2002, fashion entrepreneur Harold Tillman acquired a majority stake in Jaeger, and two years later recruited former Debenhams Chief Executive Belinda Earl to run the business.

Established in 1884, Jaeger is UK's premium apparel retail brand dealing in menswear, womenswear and accessories. It operates 50 standalone outlets in addition to 70 concessions within department stores.

Jaeger posted profit before tax of £772,000 in the year to February 2011, registering a decline of £2.22 million compared to the previous year. Total sales, too, fell by 10 percent year-on-year to £94 million in the year to February 2011, for which figures are available.

Fibre2fashion News Desk - India

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