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JoJo Maman Bébé backer considers selling stake

Minority investor in JoJo Maman Bébé, private equity firm Magenta Partners, is considering selling its stake in the retailer.

The firm has lined up PwC to handle a potential exit from the business, which is expected during the course of 2019.

News of the sale comes as Jojo reported a healthy 20% rise in revenues to £57.5m and a 14.5% increase in like for like sales for the year to June 2017.

The kidswear and maternitywear firm, which is favoured by the Duchess of Cambridge, also saw profits before tax rise to £3.9m, up from £3.6m the previous year.

Online sales were particularly strong, rising by 39.8% to £18.2m, up £5.9m in a year. Online sales represent a third of JoJo’s total revenues.

JoJo founder and chief executive Laura Tenison said: “Over the past few years we have seen the business continue to grow and prosper and have expanded into the US and Europe. We remain ambitious and dedicated to building the brand whilst retaining our core company values.”

Founder of New Look Tom Singh is an advisor at Magenta Partners. 


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