Liberty plc has been acquired by BlueGem Capital Partners LLP
Luxury department store Liberty plc has been sold to former City bankers BlueGem Capital Partners LLP. The private equity group has bought the iconic London store for US$52 million. The investment fund's offer plus the dividend paid to investors by the Liberty board, brings the total transaction value to approximately US$68 million.
Liberty is a department store located in the West End of London which sells luxury goods including women's, men's and children's fashion, cosmetics and fragrances, jewellery, accessories, homeware, furniture, stationery and gifts, and is known for its floral and graphic prints.
BlueGem Capital Partners is a London-based mid-market private equity manager established in 2007.
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
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