£20m tag for label of the stars

FASHION firm Americana, the fashion firm behind labels Bench and Hooch, has been sold to its management for nearly £20m.

The Manchester-based company has eight shops, plus concessions in leading stores such as Selfridges and House of Fraser. Turnover has surged from £5m in 1998 to £25m. Sales are expected to reach £35m this year.

The lables are popular with pop stars such as Robbie Williams and former All Saints singers Nicole and Natalie Appleton.

Venture capital group Isis Equity Partners backed the buyout deal, taking a 36% stake in the company.

Investment director Andy Gregory said: 'Americana has two strong fashion brands supported by a highly effective sourcing operation and successful retail format.'

Americana is opening wholesale shops in Germany and expanding its range to include accessories. Managing director Alan Horridge, who led the buyout, says: 'The reason we've done so well is because we have 250 mainly young staff who are full of enthusiasm for what they do and love these brands.'