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		</div><p>Department store Liberty is to come under new ownership in a deal valuing the business at £300 million (€334m).</p>
<p>Private equity firm Bluegem confirmed on Friday that it would sell its roughly 40% stake in the company to a group led by Glendower Capital.</p>
<p>It is a significant mark-up on the £32 million (€35.6m) which Bluegem paid for the business back in 2010.</p>
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<p>In 2014, it sold a stake to some unnamed European and Middle East family investors, but remained the controlling shareholder.</p>
<p>The 144-year-old brand, famous for its mock-Tudor building in central London and signature fabric prints, had become loss-making prior to its acquisition by Bluegem.</p>
<p>Under the direct management of the firm, its underlying earnings have risen from almost zero in 2010 to £25 million (€27.8m) last year.</p>
<p>Marco Capello of Bluegem, who serves as chairman of Liberty, said: “I am confident we have built a truly differentiated business and assembled a first-class management team that will allow Liberty to reclaim its status as one of the most iconic brands in the world, and the last truly heritage British brand.”</p>
<p>Mr Capello will stay on in his position, while all partners of Bluegem have co-invested in a personal capacity alongside Glendower.</p>
<p>The business will continue to be led by chief executive Adil Mehboob-Khan, former boss of Luxottica and Wella, who was appointed last year.</p>
<p>In recent years the heritage brand has made moves into new areas, such as online and digital capabilities.</p>
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<p>Investment in this area has driven online revenues from £1 million (€1.1m) to £14 million (€15.6m).</p>
<p>Meanwhile the eponymous accessories brand Liberty London, launched three years ago, is now generating £8 million (€8.9m) of sales.</p>
<p>But the famous fabrics business is also still a core part of the business, with a compound annual growth rate of 11% since 2010.</p>
<p>Mr Capello will stay on in his position, while all partners of Bluegem have co-invested in a personal capacity alongside Glendower.</p>
<p>The business will continue to be led by chief executive Adil Mehboob-Khan, former boss of Luxottica and Wella, who was appointed last year.</p>
<p>In recent years the heritage brand has made moves into new areas, such as online and digital capabilities.</p>
<p>Investment in this area has driven online revenues from £1 million (€1.1m) to £14 million (€15.6m).</p>
<p>Meanwhile the eponymous accessories brand Liberty London, launched three years ago, is now generating £8 million (€8.9m) of sales.</p>
<p>But the famous fabrics business is also still a core part of the business, with a compound annual growth rate of 11% since 2010.</p>
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