The online lingerie selling major Figleaves, was acquired by home shopping group N Brown for £11.5m, in an effort to strengthen its top most position in the market.

Supported by Balderton Capital, Figleaves, declared itself available for sale in the month of February.

It has been reportedly said that the price offered by N Brown is much lesser than the cost Figleaves was looking for. Chief Executive of N Brown, Alan White, said that he was very happy with the takeover and that the deal reflected the commitment of the Company to expand in the areas of trade, products, customer base and e-commerce proportion of the current business.

Estimation of the sales for Figleaves predicts that its sales will reach £23m by June 2010. The retailer has more than 1.2 million customers and it offers more than 100 brands. The total gain with the deal has accounted to a £10m fortune for the private equity minnow Balderton Capital.

The Company has a history of varied owners and it was initially founded by Electrical Engineer, Daniel Nabarro.

It is expected that the acquisition will add to the brand portfolio of N Brown for attracting both the younger and more premium consumer groups, as Figleaves also offers lingerie from Aubade and D&G.