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L Capital Asia to buy stake in Australian bush clothing maker RM Williams

15 Apr 2013

RM williams hatLouis Vuitton-backed private equity firm L Capital Asia has bought a 49.9 per cent stake in iconic Australian clothing and footwear brand RM Williams.

L Capital’s holding in the business was valued at about $55m according to Reuters, which cited a source close to the deal.

The remaining stake will be held by the family of RM Williams chairman Ken Cowley, who said the business would continue to manufacture its products in Australia.

A statement from the company said it expected L Capital’s stake purchase to be completed next month along with the naming of new board members.

L Capital is the Asian private equity arm of conglomerate Louis Vuitton Moet Hennessey (LVMH), which controls brands including Christian Dior, Givenchy and Marc Jacobs.

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