Raymond James Financial, Inc. has agreed to buy boutique investment bank Financo. The acquisition expands Raymond’s investment banking capabilities in the consumer and retail sectors.

“As the consumer and retail spaces undergo significant shifts in business models and shopping behavior, we see tremendous growth opportunity for M&A and growth capital-raising in the space, which are Financo’s main areas of expertise,” says Jim Bunn, president of Raymond James Global Equities and Investment Banking. “This acquisition significantly expands our consumer group and deepens our private equity relationships further assuring Raymond James is well-positioned to serve clients’ growing demand for banking expertise during a critical period of transition and change in the sector.”

Financo specializes in beauty and personal care, e-commerce, health and wellness, and home furnishings.