BrandAlley UK has announced the completion of a management buyout of the company from shareholders News International and BrandAlley France.
Backed by private investors, the deal will now see Bruce MacInnes, previously chairman of sports data group, becoming the new chairman.
MacInnes said: "I have been impressed by BrandAlley UK’s track record and I believe the company has enormous potential to continue to pioneer a retail offering which meets consumer needs and shopping habits. We have a tremendous opportunity to capitalise on the company’s leading position in the market.”
The BrandAlley UK business model and management team will remain the same following the buyout, it has been revealed.
BrandAlley UK CEO Rob Feldmann said: "As we set out on a new path as an independent company, we will look to build upon our success to date and continue to offer our members the best brands at fantastic prices. We are delighted to have the expertise of Bruce MacInnes as Chairman as we move into the next phase of our development. These are exciting times for everyone involved with BrandAlley UK.”
Corporate finance advisory firm Clarity acted as financial advisor, while Taylor Wessing acted as legal advisor to News International and BrandAlley France on the transaction.