The group has acquired £2.1m turnover Fripp Sandeman & Partners, a retail business consultancy that specialises in property. The High Wycombe-based firm employs 20 staff and was owned by its senior management team.

The terms of the deal were not disclosed.

Fripp clients include shopping centre owners, retailers, investors and local authorities. It will become part of St Ives’ Strategic Marketing division, and will work alongside its existing retail and consumer consultancy Pragma.

St Ives chief executive Matt Armitage described the business as “an excellent fit” for the group.

The current Fripp leadership team, including managing director Jo Hewson, remain with the business.

St Ives’ share price rose by 1.75p to 183.75p on the news.