Mamas & Papas in discussions to sell stake in business

THE founders of Yorkshire-based nursery products firm Mamas & Papas are in discussions to sell a stake in the retailer, according to reports.

Husband and wife David and Luisa Scacchetti, who founded the business in Huddersfield in 1981 are in talks with a number of private investors, the Sunday Times said. It has hired KPMG to oversee the negotiations.

For the year ending March 31 2013, turnover at  Mamas & Papas, which launched its £1.4m flagship northern store in Trinity Leeds last year, increased from the prior year by £8.7m to £143.4m. The business said it experienced continued growth in overseas markets where turnover came in at £30.4m, up from £26.6m in 2012.

The retailer has 70 stores in Britain and 59 overseas.