Maternity retailer JoJo Maman Bébé has sold a minority stake to private equity investors backed by New Look founder Tom Singh.
Magenta Partners, of which the Singh Family Trusts is the principal investor, has taken an undisclosed stake in the maternity specialist. Chase Emson, partner of the private equity firm, has joined the board of JoJo Maman Bébé as part of the deal.
Sales at JoJo Maman Bébé soared 50% in the past two years to £27m.
Emson said: “JoJo Maman Bébé operates in a growing sub-sector of the apparel retail market. We intend to work with the management team to help expand the business in the UK and capitalise on international growth opportunities.”
JoJo Maman Bébé founder and managing director Laura Tenison said: “We are delighted to be working with Magenta to grow the business in a sustainable manner and open up new opportunities that were out of the reach of our organic growth plan.”