UK-based Frasers Group PLC plans to accelerate its global expansion.
Frasers has acquired a non-controlling stake in Hudson Malta, a fashion retailer with operations in Europe and Africa.
Hudson Malta is a subsidiary of Hudson Holdings, Inc. Frasers and Hudson Holdings (HHL) announced a year ago, on October 10, 2023, that Frasers had made a “significant investment” and that Hudson Malta had acquired part of the Frasers brand locally. Obtained the right to operate the company. The LOI at the time also envisaged Frasers and HHL entering into a retail and franchise agreement to expand Sports Direct and other Frasers Group brands across the Hudson market.
Hudson Malta announced on Monday that Frasers and HHL have finalized a Master Framework and Shareholders Agreement (MSA) that includes non-controlling interests. The MSA also includes an option for “further staged acquisitions by Frasers Group in the future, resulting in Frasers Group taking control of Hudson Holdings.”
Frasers has been an active player in the investment and acquisition space. Last year, the company began acquiring stakes in British e-tailers Asos and Boohoo. Frasers eventually became Boohoo’s largest shareholder. It also acquired luxury retailer Matches from private equity firm Apax Partners. However, although Frasers was successful in buying back Matches’ intellectual property assets, it placed the site into administration two months later.
Earlier this month, Frasers launched a takeover bid for accessories brand Mulberry, but was told by Mulberry’s owner, Challis, that it had no interest. Challis, which owns a 56.4% majority stake in Mulberry, went head-to-head with Frasers four years ago when the company, run by Mike Ashley, first forayed into the accessories brand.
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