MILAN (Reuters) -Smythson of Bond Street, the British luxury leather goods and stationery brand, has been bought by Iconic BrandCo, a company controlled by Oakley Capital which invests in heritage
Smythson Luxury Brand Acquired by Oakley Capital's Iconic BrandCo
MILAN (Reuters) -Smythson of Bond Street, the British luxury leather goods and stationery brand, has been bought by Iconic BrandCo, a company controlled by Oakley Capital which invests in heritage brands, the private equity firm said on Tuesday.
Italian leather group Tivoli, which bought Smythson in 2009, said in a separate note that it would continue to produce leather goods for the brand.
Financial details were not disclosed by either side.
Founded in London in 1887, Smythson sells products such as diaries for 195 pounds ($270) and leather passport covers starting at 170 pounds. It holds two warrants as a supplier to the British royal family.
Oakley Capital's Iconic BrandCo said it has also bought Milan-based home decor firm Fornasetti and Italian luggage maker Fabbrica Pelletterie Milano.
"The latest acquisitions mark an important step in Oakley's strategy of building a diversified group of luxury, heritage brands," Oakley Capital said in a statement.
Iconic BrandCo also controls brands such as Alessi, Globe-Trotter and Connolly.
($1 = 0.7256 pounds)
(Reporting by Elisa AnzolinEditing by Keith Weir)
