Britain's Smythson sold to Oakley Capital's Iconic BrandCo
Italian leather group Tivoli, which bought Smythson in 2009, said in a separate note that it would continue to produce leather goods for the brand.
Financial details were not disclosed by either side.
Founded in London in 1887, Smythson sells products such as diaries for 195 pounds ($270) and leather passport covers starting at 170 pounds. It holds two warrants as a supplier to the British royal family.
Oakley Capital's Iconic BrandCo said it has also bought Milan-based home decor firm Fornasetti and Italian luggage maker Fabbrica Pelletterie Milano.
"The latest acquisitions mark an important step in Oakley's strategy of building a diversified group of luxury, heritage brands," Oakley Capital said in a statement.
Iconic BrandCo also controls brands such as Alessi, Globe-Trotter and Connolly.
($1 = 0.7256 pounds)
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