Chapelle Jewellery, which operates 24 watch and jewellery stores in outlet villages across the UK, has been bought by Hilco Capital for an undisclosed sum.
Chapelle offers discounts of up to 50% on end of season watch lines from brands including Accurist, Guess, GC, Police, Rotary and Skagen.
Hilco Capital, a private equity financier that also owns the HMV entertainment retail group, completed the acquisition this week from Chapelle founders Paul and Margaret Mortimer.
The Mortimers will remain in operational control of the company.
Henry Foster, investment director at Hilco said: “We are delighted to have completed the purchase of the group and believe there is considerable opportunity to build on the excellent business created over the last 20 years by Paul and Margaret.
“We look forward to working with them and the existing management team to combine the resources brought by Hilco to further develop and grow the business.”
Paul McGowan, Hilco Capital Chief Executive added: “After a number of non-retail acquisitions including Kraus Flooring and Tilley Endurables in Canada, we are pleased to expand our retail interests in the UK and continue to look at a number of retail and non-retail transactions across Europe and Canada.”