Luxury retailer Georg Jensen sold to Investcorp

Georg Jensen store

Investcorp, an alternative investment firm in Bahrain, has agreed to buy Danish luxury retailer Georg Jensen for $140 million, the Gulf-based company said on Monday.

Investcorp is acquiring the Copenhagen-based designer of jewellery, silverware and high-end homeware, from US private equity group Axcel Capital Partners.

Georg Jensen, a Danish silversmith, founded the company in 1904.

The group last year posted sales of around $160 million (125 million euros), and currently has 94 fully-owned stores and three franchised outlets around the world.