Shirebrook-based retail giant Frasers Group could be on the verge of buying the stock and intellectual property assets of ProBikeKit from THG, according to reports from Sky News.
The acquisitive company is said to be in advanced talks to buy the cycling brand, with the potential for a deal to be finalised and announced this week.
Sky News says the acquisition is expected to be handled through Frasers’ Evans Cycles subsidiary.
The deal follows news that THG is to close or sell off a number of its non-core subsidiaries.
