Liberty of London sold

Founded by Arthur Liberty in 1875, Liberty of London will disappear from the London Stock Exchange

as it is sold to private equity firm BlueGem Capital for £32 million.

Last May BlueGem announced it was in discussions with the Board of Liberty about the possibility of making an offer for the ordinary share capital of Liberty. Now the former MD of Merrill Lynch Global Private Equity finalised the buy through his investment fund BlueGem.

For the year to December 2009, Liberty increased its overall revenues with 20%. The London flagship store set over 125,00 ft made a sales rise of 16%.