Hobbs Sold To 3i

Venture capital from 3i is to buy fashion retailer Hobbs from Barclays Private Equity in a deal valuing the business at £111m. The deal follows interest in the womenswear retailer from a variety of potential buyers. The directors of Hobbs will re-invest in the business alongside 3i and have increased their stake in the venture from 20 per cent to 37 per cent.