Shirebrook-based Frasers Group has acquired a number of premium fashion brands from JD Sports Fashion.
The deal, including 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), comes 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.
