Better Capital said in a statement today that it had acquired, "all of the secured debt and a 90 per cent stake in Jaeger Group Limited… The aggregate cost of the acquisition was £19.5 million, the substantial majority of which was in respect of the acquisition of the secured debt with the remainder in respect of the equity stake."
The British label - which saw profits fall more than 60 per cent from £2.22 million to £772,000 in 2011 - was acquired by British Fashion Council chairman Harold Tillman in 2002, but the retail mogul admitted in January that the label had not been immune to a difficult year for the UK high street.
"The London market has been very positive," Tillman said in January. "Outside of London certain parts of the country have been strong, but overall it has been challenging."
Tillman also owns a controlling stake in Aquascutum, which has also been the subject of takeover rumours in recent months. No statement regarding the future of that label has yet been made.
LAUREN MILLIGAN 16 April 2012
http://www.vogue.co.uk/news/2012/04/16/jaeger-sold---british-brand-sale-for-20-million
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