Lingerie firm is sold for £150m

A COUNTY-BASED international lingerie company employing more than 300 people has been sold for almost £150m.

Eveden, which is based in Rothwell Road, Desborough, is a supplier of lingerie and swimwear brands. It was bought by Japanese underwear company Wacoal for about £148m last week.

The purchase means that Eveden, which has bucked the downward economic climate with profits of £80m last year, will become a subsidiary of the Kyoto-based company.

Eveden Group chief executive Tracy Lewis said: “We are excited to be joining the Wacoal Group, with who we share a similar business ethos, culture and values.

“Being part of one of the leading businesses in the lingerie sector presents us with both a huge opportunity to develop the reach of our brands globally and our teams with great benefits for business and personal development.”

The company was founded in 1920 and currently employs more than 300 people at its Desborough headquarters.

An Eveden spokesman said that no jobs will be under threat as a result of the sale.

Eveden makes about 5,000 bras and underwear specifically designed for fuller figured women across 50 countries, and owns several big-name brands in the lingerie market.

Richard Murray, president of Wacoal America, welcomed the deal to buy Eveden.

He said: “Our acquisition of Eveden – a company which has established a leading presence in the key markets of Europe – North America and Australia significantly accelerates our corporate strategy for overseas expansion.

“We look forward to working with the Eveden team and developing our businesses together.”

Eveden recently announced its profits for the year ending June 2011 were up 18 per cent.