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Family-owned Berkshire department store Camp Hopson sold

Department store Camp Hobson, in Newbury, has been sold to independent chain Morleys Stores Limited, according to Newbury Today.

Camp Hopson, which was owned by the Hopson family since 1921, will keep the name and retain existing staff.

The chairman of Morleys, Bernard Dreesmann said that £3 million will now be invested in Camp Hopson as a result of the acquisition

In the year ending January 2014, Morleys Group reported sales at £90.6 million with a pre-tax profit of £7.1 million.

In the first 9 months trading of this year like for like sales were up 6 per cent according to the company and the acquisition will is expected to boost Group sales beyond the £100 million mark.

Camp Hopson chief executive, Jonathan Hopson said of the sale: “Camp Hopson always sought to provide the best possible service to the people of Newbury.

“The department store and furniture store will benefit hugely from being part of a bigger independent department store group given the skills, expertise and buying power they bring.

“We’re delighted that Morleys Group will keep the Camp Hopson name, retain our existing staff and make a substantial new investment in the business.

“We couldn’t have found a better buyer to take these businesses on the next stage of their 90 year journey.”

This was posted in Bdaily's Members' News section by Ellen Forster .