Frasers Group, the owner of the Sports Direct chain founded by billionaire Mike Ashley, has agreed to buy a string of fashion brands from the leisurewear retailer JD Sports Fashion for “up to” £47.5 million ($57.7 million) which covers the acquisition of shares in the labels and their debt.
The move—announced late on Friday afternoon just before the market close—leaves JD Sports free to pursue expansion in its core segment of sports retailing while Frasers Group has landed a pick’n’mix of premium brands on top of an already burgeoning portfolio. It spans the high-end, from fashion retailer Flannels; Saville Row tailoring house Gieves and Hawkes; and international label Hugo Boss where Frasers has a 34% stake, to Jack Wills, department store retailer House of Fraser, and Sofa.com.
This latest deal saw eight of the businesses—Base Childrenswear,