Le Chameau, the Wellington-boot-maker favoured by the Prince William and Kate Middleton and Prince Harry, is to be bought by listed buy-out firm, Marwyn Management Partners.
Le Chameau, the Wellington-boot-maker favoured by the Prince William and Kate Middleton - the Duke and Duchess of Cambridge - and Prince Harry, is to be bought by listed buy-out firm, Marwyn Management Partners.
The terms of the deal have not been disclosed but the French company, whose handcrafted rubber boots sell for up to pounds 320 a pair, turned over euros 25 m (pounds 15.5 m) last year.
Marwyn struck the deal with Le Chameau's parent company, Lafuma, an outdoor clothing business which is listed in France.
Under French law, Lafuma staff must be consulted on the deal before it can be completed, a process which is expected to take between four and six weeks.
It is an unusual move for Marwyn. The company is better known for its investment in the film distribution giant Entertainment One as well as in multiple outsourcing companies and software businesses.
However, it hopes the acquisition of Le Chameau, through its new Silvercloud fund, will mark the start of a string of acquisitions in the luxury goods sector.
It plans to develop the brand inter-nationally, capitalising on overseas demand for high-end, European labels, particularly among Far Eastern shoppers.
"Le Chameau is a brand with an exceptional heritage and product of the very highest quality," Mark Watts, executive director of Marwyn said.
"We look forward to helping to grow the business and develop it as a truly international luxury brand."
The company, which was founded in 1927, has already seen a significant boost in revenues this year, after William and Kate - the Duke and Duchess - and Prince Harry were pictured wearing its boots.
Sales of Le Chameau's pounds 160 Vierzonard boots jumped by a third after the Duchess was photographed sporting a pair at a charity event in June. Sales of men's boots also increased on the back of the so-called 'Duchess effect'.
Marwyn hopes Le Chameau will follow a similar trajectory as Hunter, the rival Wellington-boot-manufacturer favoured by the Queen. Hunter's turnover rose by 38pc to pounds 78m for the year to December, after a surge in demand for its footwear in Asia.
American private equity firm Searchlight Capital acquired a majority stake in Hunter last December and has since embarked on an international expansion programme.
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