Marchpole Holdings plc, the fast growing fashion brand management group, is pleased to announce that it has agreed to acquire the luxury clothing company Homebody Limited.
Homebody, which was founded in 1997 by Beverley Calvert, designs, manufactures and distributes a luxury lifestyle collection of ladieswear, maternity wear and menswear designed by Beverley and Susannah Draper.
Marchpole has acquired an initial 51 per cent interest in Homebody with the remaining 49 per cent being acquired after three years based on an earn out formula. The maximum aggregate consideration for the acquisition will not exceed £1.35 million.
The initial consideration will be satisfied in cash from the Company's existing resources and the final consideration will be satisfied in Marchpole shares, cash or a combination of the two at Marchpole's discretion.
Beverley Calvert and Susannah Draper will remain at the creative helm of the business and will continue to develop their brand with Marchpole.
Homebody, which has wholesale, retail and internet customers, has secured a unique position in the lifestyle category and is a fast growing brand in the UK and US.
Marchpole will build the brand throughout Europe and the US through increased distribution outlets, leveraging the demand for the excellent designs and creativity of Homebody.
The Homebody collection is stocked in Selfridges and Harrods as well as top boutiques across the UK. International stockists include Neiman Marcus and Fred Segal.
marketing@alchempro.com
