LONDON, June 16 (Reuters) - M & M Direct Ltd, the online and mail order retailer, said on Monday it had signed a definitive agreement to be acquired by Danish fashion group Bestseller for up to 140 million pounds ($235 million).
Britain’s M and M has been owned by global private equity firm TA Associates since 2007. Bestseller is owned by Danish fashion store magnate Anders Holch Povlsen.
M and M said the sale is contingent upon standard regulatory clearance and is expected to be completed within eight weeks.
$1 = 0.5956 British Pounds Reporting by James Davey; editing by Kate Holton