Niche retail agency Harper Dennis Hobbs has been bought by global real estate advisory Newmark Group.
Newmark said the acquisition of HDH added a “strong presence” for it in London.
“With every acquisition we look to refine our key service offerings and areas of expertise to meet the diverse and fast-changing needs of our clients, who increasingly seek to evolve on a global stage,” said Newmark chief executive Barry Gosin.
“Acquiring Harper Dennis Hobbs is an essential strategic investment for Newmark as we begin to scale our domestic retail practice to offer a world-wide level of enterprise resources.”
HDH chairman, David Harper, said: “Our decision to align with another firm required cultural similarity and business savvy for service. Newmark, as a growing enterprise, exceeded our expectation with their impressive platform of retail clients and resources.”
HDH chief executive James Ebel (pictured) added: “For more than a decade of client solutioning and collaborative referrals, we have built long-standing relationships with Newmark and its brokers. Newmark’s investment in this dynamic industry provides our business with access to a deeper and diverse network of retail expertise, across borders.”
Founded in 1993, HDH employs more than 50 people and acts for clients including Belstaff, Five Guys Burgers & Fries, J. Crew, Louis Vuitton, Samsung, Sketchers, Tiffany & Co and West Elm. According to its latest accounts at Companies House, HDH turned a profit of just over £1.2m for the year ended 30 June 2018.
It will continue to operate as Harper Dennis Hobbs following the acquisition by Newmark.
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