Womenswear retailer PAS Group is back on the acquisition trail, searching for new retail brands and licences after being acquired by entrepreneur Larry Kestelman's private equity arm, Queens Lane Capital.

PAS Group's long-serving chief executive, Eric Morris, said the group, itself the product of a series of acquisitions, was looking to buy distressed retailers and brands in need of new capital to add its retail and wholesale portfolio, which includes Review, Black Pepper, Yarra Trail and the Designworks business.