LONDON — Bregal Freshstream, a newly formed private-equity fund, has purchased the premium British accessories brand Radley.
Founded in 1998, Radley does most of its business in the U.K., and also sells in Europe and Asia. It had been majority-owned by Exponent Private Equity since 2007. Radley’s core products are leather bags with Scottie dog charms dangling from the handles. The brand offers a full line of accessories, including watches.
The entrepreneur and retail veteran Don McCarthy, who recently served as executive chairman of the British department store House of Fraser, will become chairman of Radley. He will work alongside the current chief executive officer Justin Stead.
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The terms of the deal were not disclosed.
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About 90 percent of Radley’s sales are done in the U.K., where the brand has 33 stores and eight concessions. It sells through 33 John Lewis stores, 58 branches of House of Fraser, and more than 200 department stores and independent shops.
It also has dedicated web sites for the U.K., German and Japanese markets.
Bregal Freshstream said the new investment would allow Radley to grow its market share in both the U.K. and abroad, with “significant potential” to build upon the brand’s international appeal.
This deal marks the third investment for Bregal Freshstream, which has taken stakes in the infrastructure contractor Taziker Industrial and the Belgian self-service restaurant chain Lunch Garden over the past few months.
“We see significant opportunity for the group to build on its international appeal,” said Freshstream’s managing partner Patrick Smulders.
The new owner said Radley is “ideally positioned in the affordable luxury segment of the global luxury goods market,” which it said was worth 161 billion pounds, or $234 billion, in 2014. It said the U.K. handbag market alone was worth 1.6 billion pounds, or $2.32 billion, in 2015 and has grown at a rate of 7 percent since 2011.
Bregal Freshstream was formed last year and is backed by Freshstream Capital and Bregal Investments, a family investment fund. Bregal Investments, whose holdings include the Dutch retail chain C&A, has committed 600 million euros, or $682 million, to the fund.
The brand was founded by the Australian native Lowell Harder, who set up the business in London’s Camden Market.