t
| Date | 16 Dec 2022 |
| Time | 15:45:24 |
| Category | Acquisitions and alliances |
| ID | 0553K |
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. [email protected]
Chris Wootton, Chief Financial Officer T. 0344 245 9200
Ronnie Laffar, Head of PR & Communications T. 07585 886189
Rosie Oddy, Brunswick Group, T. 07734 861279
PR Advisors E. [email protected]
Numis T. 020 7260 1000
Luke Bordewich
Stuart Ord
Ollie Steele
Liberum T. 020 3100 2000
John Fishley
Kane Collins
Nikhil Varghese
[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.