British handbag brand Hill & Friends has been acquired by leather goods manufacturer Pittards.
Pittards said in a release that Hill & Friends brings “a distinctive aesthetic, proven pedigree, and a loyal customer base, whilst also offering the potential for material international growth” to the company.
Founded in London in 2015 by Emma Hill and Georgia Fendley, Hill & Friends sells a range of handbags and accessories.
The deal will also see co-founder Hill become a consultant at Pittards.
“Maintaining our strong balance sheet, this acquisition has been financed entirely from the company's existing liquidity,” said Pittards chief executive Reg Hankey.
He continued: “This complementary acquisition represents a compelling opportunity to further scale our offering, building on our success with our luxury gentlemen's brand Daines and Hathaway.
“We are excited to be working with Emma to increase the breadth of our fashion industry offering whilst at the same time, driving further synergy benefits and unlocking shareholder value through increased scale.”