Macfarlanes has advised a fund managed by secondary private equity firm Glendower Capital on the acquisition of a circa 40 per cent stake in the famous London department store Liberty in a deal valuing the business at around GBP300 million.
Liberty, which was founded in 1875, is a world-renowned store focusing on luxury items such as fabrics, jewellery and perfume.
Glendower Capital is leading the private equity-led consortium purchasing this stake from Bluegem Capital who invested in Liberty in 2010.
The Macfarlanes team was led by corporate and M&A partners Luke Powell and Stephen Pike with assistance from senior solicitor Ceri-Ann McGraa and solicitors Danny Williams and Michael Stern. Tax advice was provided by tax and reward partner James McCredie and solicitor Paddy Croft, with partner Malcolm Walton assisting on competition elements.
Powell says: “We are delighted to have helped Glendower buy in to the iconic Liberty business and look forward to seeing the business grow and develop in the years ahead.”
