Mainstream womenswear brand Joseph Ribkoff has sold a majority stake to Canadian private equity firm Novacap for an undisclosed amount.
The sale was financed by Novacap Industies IV Fund, in partnership with the Fonds de solidarité FTQ, the brand’s founder Joseph Ribkoff and company executives.
The investment is Novacap’s first foray into women’s fashion.
“Joseph Ribkoff is a Quebec company that has experienced strong growth in recent years and is present in several international markets,” said Novacap senior partner and Joseph Ribkoff’s new chairman, Domenic Mancini.
“We are convinced of Joseph Ribkoff’s potential at the national and international levels. The company is ready to move up to a new level and, as we have done many times in the past, our intention is to provide the necessary financial support to accelerate the company’s growth and expansion into new markets.”