The Cambridge Satchel Company has announced it has been sold to French textile company Chargeurs for an undisclosed sum.
Created in 2008 by Julie Deane and her mother, Freda Thomas, the British firm designs, manufactures and distributes a range of leather bags, satchels and accessories, employing over 60 people.
Deane will remain a director of the business, while two senior executives from Chargeurs have been appointed as part of the acquisition.
Chargeurs said the business would benefit from The Cambridge Satchel Company’s production base and expertise in marketing and e-commerce.
Michaël Fribourg, chairman and CEO of Chargeurs, said: “The acquisition of Satchel fully illustrates the Group’s ability to identify authentic, high-potential assets, with an ambition to supply them with the resources to move upmarket and internationalise their business presence.
“The Satchel teams, whom I warmly welcome to the Chargeurs family, are equipped with authentic know-how in manufacturing, marketing and digital distribution, which will bolster growth at Swaine.”
