Hilco Capital, the owner of the HMV entertainment retail group, has completed the acquisition of jewellery retailer, Chapelle, from the company’s founders, Paul and Margaret Mortimer.

Chapelle operates 24 stores in designer outlet villages across the UK as well as a successful ecommerce site, chapelle.co.uk, and is the largest jewellery retailer in this sector.

Henry Foster, Investment Director at Hilco said: “We are delighted to have completed the purchase of the group and believe there is considerable opportunity to build on the excellent business created over the last 20 years by Paul and Margaret. We look forward to working with them and the existing management team to combine the resources brought by Hilco to further develop and grow the business.”

Hilco Capital Chief Executive Paul McGowan said: “After a number of non-retail acquisitions including Kraus Flooring and Tilley Endurables in Canada, we are pleased to expand our retail interests in the UK and continue to look at a number of retail and non-retail transactions across Europe and Canada.”