Frasers Group Buys Premium Fashion Brands From JD Sports Fashion – MarketWatch

By Anthony O. Goriainoff
Frasers Group PLC said Friday that it has bought 15 premium fashion brands from JD Sports Fashion PLC for up to 47.5 million pounds ($57.9 million).
The U.K. sports-fashion retailer said, as part of the transaction, subsidiaries of Frasers Group will acquire shares held by JD, which will also transfer all of the indebtedness owing to JD by the businesses.
The company will acquire JD’s interests in premium fashion brands Base Childrenswear, Choice, Clothingsites, Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti including Xile, Scotts, Watch Shop and Topgrade Sportswear.
Frasers said completion of the acquisition of eight of the businesses and debt took place on exchange. Completion of the remaining seven–Cricket, Tessuti, Scotts, Giulio, Choice, Rascal Clothing and Topgrade Sportswear, which includes Get The Label–is expected to take place in early 2023.
JD Sports Fashion said the divestment of these businesses will allow it to “focus more fully on the opportunities across the rest of the group, in particular the international and digital expansion of the group’s core premium sports fashion fascias.”
Shares at 1557 GMT were down 9.50 pence, or 1.3%, at 733 pence.
Write to Anthony O. Goriainoff at
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