Jon Moulton snaps up Jaeger brand for £19.5m

The entrepreneur Harold Tillman has sold Jaeger, the 128-year-old fashion brand, for a knockdown price of £19.5m to Better Capital, the firm founded by the veteran venture capitalist Jon Moulton.

Better Capital has acquired 90 per cent of Jaeger, which has 50 UK shops, 90 concessions and a handful of stores overseas. Mr Tillman keeps a 10 per cent stake and remains as Jaeger's non-executive chairman.

Mr Moulton, who founded Better Capital in 2009, said: "It [Jaeger] has been struggling but not a lot. It has been short of capital. It is a very strong brand and we have a good business to start from."

Jaeger has had to put funds into the Aquascutum brand, which Mr Tillman acquired in 2009.