The purchase from previous owner Sir Phillip Green is expected to see the Topshop and Topman brands continue their rapid expansion around the world. Leonard Green and Partners already has investments in a host of retail businesses, including fashion chain J Crew and food seller Whole Foods Market.
Leonard Green and Partners' stake in Topshop and Topman will be ring-fenced from the wider Arcadia Group, and Sir Philip's company will retain the other 75 percent stake in the clothing chain. Arcadia's other chains include BHS, Burton, Dorothy Perkins and Miss Selfridges.
In recent years the brands have successfully expanding into the US, Brazil and Australia. “This is a very exciting time for the business with the brands well positioned to become major global players,” said Sir Philip.