UNITED KINGDOM (Bloomberg) — The founder of Aspinal of London Ltd., the U.K. luxury handbag and accessory maker, is considering selling a minority stake to fund future growth, two people with knowledge of the matter said.
Chairman Iain Burton, who created the company in 2001, has held talks with private-equity firms over selling about 30 percent in a transaction that could value the company at as much as 150 million pounds ($253 million), said the people, who asked not to be identified because the talks are private.
The luxury goods company, which counts celebrities Pippa Middleton, Elizabeth Hurley and Mollie King as customers, has been stepping up international expansion with store openings in the Middle East and U.S. planned this year, according to filings at U.K. Companies House.
Aspinal had earnings before interest, tax, depreciation, and amortization of 1.3 million pounds for the 12 months ended March 31, 2013, on sales of 14.3 million pounds, the filings show.
A spokesman for Aspinal, which is based in Fernhurst, England, didn’t respond to telephone and e-mail requests seeking comment.
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