REG - Frasers Group PLC JD Sports Fashion - Acquisition of Premium Fashion Brands

FrasersAnnouncement

16/12/2022 16:00

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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. investor.relations@frasers.group

 

Chris Wootton, Chief Financial
Officer                      T. 0344 245 9200

 
                               E. financial@frasers.group

 

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

 
                               E. fgpr@frasers.group

 

Rosie Oddy, Brunswick
Group,                                  T.
07734 861279

PR
Advisors
E. frasersgroup@brunswick.com

 

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.

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