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PRIVACY
Retail & Consumer

Celtic and Co parent firm adds Somerset women鈥檚 fashion brand to portfolio

The deal is the third Refined Brands has completed in recent months

A clothing rack of colourful coats(Image: Grant Thornton)

The parent company of Cornish fashion brand Celtic and Co has completed a trio of recent deals with the acquisition of women’s clothing business Kettlewell Colours for an undisclosed sum.

Refind Brands has added Somerset-based Kettlewell to its portfolio, having reached agreements late last year to buy Cornish children's clothing brand Frugi and Shropshire cashmere specialists Turtle Doves.

Kettlewell, founded by John and Melissa Nicholson and based near Chard, has annual sales of nearly £9m and works with factories in Portugal, Turkey and the 海角视频 to produce its garments.

Refind Brands is building a group of fashion brands which describe themselves as environmentally and ethically minded. In February 2021 it made its first investment into sustainable clothing label Celtic and Co, which has its head office at Indian Queens and a factory in Newquay.

The group was founded by Refined Capital Partners, an investment firm for some leading fashion industry figures including Ben Barnett, former chief executive of TFG London, which owns the Phase Eight, Whistles and Hobbs brands.

It’s activity is funded by the team, in partnership with HSBC, Kvika Bank and Souter Investments - the family investment office of Stagecoach co-founder, Sir Brian Souter.

Law firm Grant Thornton advised Refind Brands on the three deals. John Panteli, Grant Thornton’s head of transaction advisory services in the South said: “With increasing consumer awareness over the environmental impact of the clothes we buy, Refined Brands has a clear and compelling strategy to build a differentiated group of brands with the highest ESG credentials.”

“We are delighted to have advised on these three important acquisitions and look forward to supporting the Refined Brands team as it continues its selective buy and build growth strategy.”