Investment company Western Selection is acquiring a large minority stake in Tudor Rose International.
TRI handles the international marketing and logistics for well-known British brands. It sells to 78 countries and has a turnover of more than £15m. It is being acquired for £3.25m.
Western is buying 49.5% of the buyout vehicle for TRI and can appoint two non-executive directors. This stake cost £730,000. Managing director Mike Aird will own 35.5% and the rest will be owned by other directors.
Western rose 0.5p to 35p, valuing it at £6.28m.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.