Private equity firm Emeram Capital Partners has said it will keep on all 300 Americana International staff as it completes a deal to take on the parent company of Bench and Hooch.
Emeram bought Manchester-based Americana from private equity business HgCapital last week, Drapersonline.com revealed, nearly a year after it was put up for sale.
The price of the deal has not been disclosed but sources previously valued the Americana business at about £100m. It was bought for £190m by Hg Capital in 2007.
A spokesman for German-based Emeram said the deal was close to being formally completed but declined to comment on specifics.
“There will be no negative effect on the employees,” he said. Americana employs around 300 staff, mainly in the UK and Germany.
Last March, Americana hired corporate advisory firm Canaccord Genuity to lead a strategic review of the company, which culminated in an autumn 14 revamp for Bench. The young fashion brand cut the number of pieces in its men’s and women’s ranges by about a quarter and prices rose as it used higher-quality fabrics.
Emeram partner Kai Obring said: “We look forward to supporting Americana with this next step and realising Bench’s full growth potential.”