US investment firm Pop Capital has acquired UK heritage menswear brand New & Lingwood for an undisclosed sum, reported Drapers. New & Lingwood was started in Eton and is the official outfitters to the college.

The company has a store on Jermyn Street in London, and also produces Bowring Arundel shirts and Poulsen Skone shoes. South African entrepreneur Anthony Spitz, who previously owned the company, will remain at the firm as chairman to support a new global expansion strategy.

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In addition, the Spitz family will keep a minority stake in the new holding company.