Raincoat maker Aquascutum set to be sold for £97m

Fri, 23 Dec 2016 | BUSINESS SALE

Aquascutum, the luxury raincoat maker whose items have been worn by a host of famous faces including the Queen Mother, Margaret Thatcher and Humphrey Bogart - as well as First World War officers - is to be acquired by two buyers for $120 million (£97 million), according to reports.

The clothing company, which started life as a tailors in Mayfair back in 1851, is to be sold by its owner, Hong-Kong-based YGM Trading, which bought it for £15 million in 2012.

In its annual report YGM said “two independent third parties” had paid an initial $5 million for exclusivity rights to Aquascutum in a deal expected to complete by the end of March next year. Shandong Ruyi Group, a Chinese textile firm, is being touted as one of the buyers.

Aquascutum has a rich history but has struggled of late. The firm was saved from administration in 2012 and has seen poor sales in the UK - in the six months to September 30 they fell 16 per cent. While it has concentrated on the Chinese market, it has shut 14 stores there as well as one in Taiwan, although it opened one in Europe.

The business was founded by John Emary, a tailor, who invented and patented the first waterproof wool, which gave Aquascutum its name - it translates from Latin as ‘water shield’. The firm developed its iconic trench coat in 1914, which was designed to be used by the British military. In the 1980s the brand dressed a number of political figures and, in 1996, supplied uniforms to the British Olympic team.

Should Chinese interest in Aquascutum be confirmed, it will be the latest display of interest in British brands. The acquisition would be the latest in a number of China-UK deals, including the £1.4 billion purchase of UK travel website Skyscanner by Ctrip.com and the reported £2 million acquisition of a pub in Buckinghamshire which was visited by then Prime Minister David Cameron and China’s President Xi Jinping in 2015.

Find retail businesses for sale and, for in-depth analysis of China's growing investment in the UK, read our latest Subscriber-only report, Chinese firms winning out by buying UK businesses.


Share this article



Latest Businesses for Sale

Haulage & Warehousing Services
UK Wide

Utilises a team of experienced drivers to provide tailored logistics solutions, with a focus on home delivery services, whilst also offering complementary warehouse solutions. Serves 20 active clients from a wide range of sectors, including retail, i...

Asking Price: Offers Invited
Turnover: £2,900,000

LEASEHOLD


Automotive Electrical Products & Services
UK Wide

Established for over 50 years.Provides a range of automotive electrical services including air conditioning, heating, tachographs, security systems, vehicle tracking and reversing aids for vehicle, plant and marine industries. Over 100 active clients...

Asking Price: Offers Invited
Turnover: £771,000

FREEHOLD


Freight Forwarding Services
South East, UK

Provides freight forwarding for a range of sectors, as well as warehousing and an array of other complementary services. Serves over 20 clients, with an 80% retention rate.Strong second-tier management team in place. Generates revenue on an internati...

Asking Price: Offers Invited
Turnover: £956,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
11
 
Aug
 

PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE

PPL Corporation has announced that it has put its UK utility...

 
10
 
Aug
 

Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE

Samworth Brothers has completed the £6.4 million acqui...

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
11
 
May
 

YGM Trading buys Aquascutum | BUSINESS SALE

British luxury fashion brand Aquascutum has been bought by a...

 
18
 
Apr
 

Administration confirmed for Aquascutum | ADMINISTRATION

Aquascutum has been put into administration following yester...

 
17
 
Apr
 

Insolvency hits Aquascutum | ADMINISTRATION

The classic British designer clothing brand Aquascutum has b...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources