Dutch lingerie manufacturer Van de Velde has announced that it has acquired a majority stake in UK lingerie retailer Rigby & Peller.

Van de Velde said on Monday (16 August) that it paid GBP8m (US$13.2m) for an 87% stake in the company. The Kenton family, which previously owned the company, will retain a minority stake in the business and will "have a role in carrying it forward", said Van de Velde.

The retailer, which has held a royal warrant for over 50 years was founded in in 1939 and was bought by June and Harold Kenton in 1982.

Van de Velde said it intends to reinforce the Rigby & Peller brand and grow the business both in the UK and internationally.

Commenting on the sale, June Kenton said: "It was important for us to choose a company that shared the same values and vision as Rigby & Peller. Our staff and customers rely on us to deliver high standards in product and service. It is a privilege to sell the majority stake to Van de Velde, who like us, are a family-oriented company and appreciate the value of heritage whilst looking to the future for growth and success. Our entire team at Rigby & Peller are looking forward to working with them."

June and her son David Kenton will remain on the company's board of directors.