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Private equity firm buys Cath Kidston

US private equity group TA Associates has agreed to buy fashion-to-furnishings chain Cath Kidston in a deal worth about £100m.

According to the Financial Times, bank Lloyds is providing £25m of debt for the deal, which will give TA a 60% stake, leaving the management with the rest. Kidston will own about 30% of the company following the deal.

Kidston started the company from a shop in London’s Holland Park in 1993 selling vintage fabrics, wallpapers and brightly painted furniture. It expanded to 25 stores.

TA plans to expand the UK portfolio and its fast-growing presence in Japan. It also aims to open new stores in the US, other parts of Asia and continental Europe.

TA owns stakes in several retailers including etailer M and M Direct. TA is also thought to be one of the private equity firms eyeing Hobbycraft.

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