Van de Velde Acquires 87% of Rigby & Peller

Belgian lingerie company Van de Velde has purchased an 87 percent majority stake in U.K. retail lingerie chain Rigby & Peller.

Previous majority holder June Kenton, who purchased Rigby & Peller with her husband Harold Kenton in 1982, is left with a 13 percent minority holding in the company. "It is a privilege to sell the majority stake to Van de Velde, who, like us, are a family-oriented company and appreciate the value of heritage whilst looking to the future for growth and success," stated Kenton. "Our entire team at Rigby & Peller are looking forward to working with them." Kenton and her son David Kenton will remain members of Rigby & Peller’s board of directors.

"It is our intention to work closely with both the Kenton family and the existing management team to invest and grow Rigby & Peller both in the U.K. and internationally," stated Ignace van Dooselare, chief executive officer of Van de Velde.

Rigby & Peller was founded in 1939 in London and has seven U.K. locations. Van de Velde is a public company established in 1919 that designs and produces luxury lingerie brands that retail in Europe and North America.