Shareholders in leading organic children’s clothing maker Frugi have used expertise from regional law firm Ashfords and the Bristol office of national accountancy group BDO in their sale of a majority stake in the business.
Frugi, which designs, manufactures and sells sustainably-sourced organic cotton apparel and accessories for babies, children and new mothers from its base in Helston, Cornwall, sold the shareholding to True, Europe’s only retail and consumer investment and innovation firm.
Ashfords provided legal advice to Frugi’s shareholders while BDO’s mergers and acquisitions team acted as lead advisers.
The Ashfords team was led by Louise Workman, its head of retail and a partner in its corporate team, assisted by Emma Clayton.
Louise, pictured left, said: “We have worked with the founders of Frugi for several years and were delighted to work with them on this transaction. This deal builds on our expertise in the retail sector and on working with exciting and innovative investors like True.”
BDO Bristol-based partner Laura Shaw, pictured below right, who leads the retail and consumer team, added: “It has been a pleasure to work with such a talented management team and True Capital on this transaction.
“Frugi is a true feelgood, quintessentially British brand with undisputable demand from millennials driving parenting ideals. The brand has only really just touched the surface of its real potential and True are the perfect partners to take Frugi on the next stage of its journey.”
Frugi’s products are sold primarily sold via its website and alongside retail partners including John Lewis, Next and independent stores. 
Its fun, ethical, and innovative designs have helped the firm foster a loyal and engaged customer base and led to a Queen’s Award for Enterprise in 2014.
The company uses only organic cotton or recycled plastic bottles – it recycles 36 to make one of its winter jackets- and gives 1% of its annual revenue to good causes.
True, whose industry partners include John Lewis, Morrisons, LandSec, Abercrombie & Fitch, TJX and South African and Australian retailer Woolworths, will work with Frugi’s existing management team to support the company’s ongoing scalable growth.
True’s Live Network, including its Startup Innovator and Leading Industry Partner programmes, will help Frugi identify next-generation marketing solutions, products and emerging technologies to accelerate international growth.
True co-founder Paul Cocker said: “We invest in businesses, teams and people who forge retail and consumer change. Frugi’s approach to product integrity, ethics, brand loyalty and digital fulfilment reflects what modern shoppers want. Frugi has great potential and we are excited for the company’s next phase of growth.”
