Acquisition of Premium Fashion Brands

RNS Number : 0553K

Frasers Group PLC

16 December 2022

 

Date: 16 December 2022

FRASERS GROUP PLC

("Frasers Group" or "the Company")

ACQUISITION OF PREMIUM FASHION BRANDS

Frasers Group announces the acquisition from JD Sports Fashion Plc ("JD") of JD's interests in the premium fashion brands Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop and Topgrade Sportswear (including Get The Label) (the "Businesses") by way of the acquisition of shares held by JD and the transfer of all of the indebtedness owing to JD by the Businesses, by, and to, subsidiaries of Frasers Group.

The amount payable for the acquisition of the shares and the indebtedness from JD is up to £47.5 million in the aggregate and will be funded from Frasers Group's existing cash resources. Completion of the acquisition of eight of the Businesses and the debt took place on exchange, with completion of the acquisition of the remaining seven Businesses (Cricket, Tessuti  Scotts, Giulio, Choice, Rascal Clothing and Topgrade Sportswear (including Get The Label)) expected to take place in early 2023[1].

Ends

Frasers Group plc

Robert Palmer, Company Secretary  T. 0344 245 9200

LEI:213800JEGHHEAXIJDX34  E. [e-mail]

Chris Wootton, Chief Financial Officer  T. 0344 245 9200

                                                                                   E. [e-mail]

Ronnie Laffar, Head of PR & Communications  T. 07585 886189

                                                                                   E. [e-mail]

Rosie Oddy, Brunswick Group,  T. 07734 861279

PR Advisors  E. [e-mail]

Numis   T. 020 7260 1000

Luke Bordewich

Stuart Ord   

Ollie Steele

Liberum   T. 020 3100 2000

John Fishley

Kane Collins

Nikhil Varghese

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[1] Based on their latest filed individual annual accounts, the Businesses had aggregate gross assets of approx. £239 million and profit before tax of approx. £5.3 million. 

 

END

 

 

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