Fashion chain returns to private hands after swoop by Newcastle businessman
French Connection shareholders have backed the £29m takeover of the fashion brand led by a Newcastle-based businessman, putting the company back into private hands for the first time since 1983.
The new owners are expected to take over on 8 November. The 75-year-old chair and chief executive, Stephen Marks, who co-founded the chain in 1972 and owns nearly 42% of the company, is to receive about £12m for his stake in the business.
