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SRG owner boosts stake in BMB Group

Egyptian manufacturer Arafa Holdings has splashed out £3.7 million to increase its stake in menswear supply group BMB to 60%.

Arafa previously owned just over 40% of the business, which owns and distributes a variety of brands including Baracuta, Melka and Alexandre Savile Row, as well as supplying suits to high street multiples including Burton and Debenhams.

In March, Arafa bought SRG, which operates the 71-store Suits You chain, as part of plans to expand its European portfolio of brands and chains.

Arafa was also linked to a potential bid for rival menswear chain Moss Bros but is understood to have since walked away.

The Egyptian group appointed BMB chief executive Peter Lucas as chairman of its European arm in January last year, to oversee acquisitions.

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