OakNorth, the digital bank, has provided a bespoke funding package to premium nursery brand, Mamas & Papas, to support its continued growth.
Founded in 1981 by new parents at the time, David and Luisa Scacchetti, and headquartered in Huddersfield, West Yorkshire, Mamas & Papas is a designer, wholesaler, and retailer of nursery and baby products including travel systems, nursery furniture and children’s clothing.
The business is now the largest nursery brand in the UK, operating an omnichannel shopping experience, including over 60 dedicated stores and concessions, across the country, in addition to an international footprint that sees them operating in 23 countries through various wholesale channels.
Initially a family-owned business, Mamas & Papas was acquired in 2014 by Bluegem Capital Partners, which was founded in 2007 by Marco Capello and Emilio Di Spiezio Sardo. Bluegem is a private equity firm based in London, which invests in European consumer brands and businesses with baby care being a core subvertical.
Mamas & Papas, which reported sales growth of 14% to £144m in its 2023 financial year, is set to report another record financial year thanks to continued sales and profits growth.
Nathan Williams, CEO of Mamas & Papas, said: “Over recent years, Mamas & Papas has continued to build momentum across all areas of the business, including our store footprint, digital offering, domestic market and overseas partnerships, helping us win a record share of the market and build our reputation as a purpose-led, parent-centric brand.
“OakNorth’s relationship-based approach to lending meant Stuart and his team were able to create a funding package that solves all our funding requirements under one facility.”
Mathieu Develay, Partner at Bluegem Capital Partners, said: “Mamas & Papas is one of the most well known and loved premium baby brands in the UK, and a haven for expectant parents.
“We were excited to acquire the business in 2014, and a decade on, we’ve been privileged to have a front-row seat as it has continued to go from strength to strength. Having worked with OakNorth before, we felt they’d be the ideal partner to support us with this transaction.”
Stuart Blair, Director of Debt Finance at OakNorth, added: “This is a very exciting transaction for OakNorth as it emphasises our strong ambitions to do more to support the UK’s retail sector moving forward.
“Given the expected growth in the UK nursery and baby products market, Mamas & Papas is well positioned to capture further market share and continue building its omni-channel presence. In Bluegem, they have a strong, long-term backer with an excellent track record in supporting retail and consumer brands across a range of sector verticals.”
