The owner of department store Liberty, private equity firm BlueGem, has bought a majority stake in Mamas & Papas.
Mamas & Papas founder David Scacchetti said the deal would help the maternity and baby wear retailer expand internationally.
He said: “The directors believe this is the right step for the company and will help us achieve our aim of becoming the world’s favourite nursery brand. BlueGem are a very well-respected private equity firm and have a great track record of working with expanding businesses such as ours, providing both investment and advice.”
BlueGem managing partner Marco Capello added: “We are thrilled to support the Mamas & Papas team in continuing their quest to become the world’s favourite nursery brand. Mamas & Papas has always been a quality, premium brand and a haven for expectant parents.”
The deal is the first time the business has sold a stake.