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IN BRIEF: Frasers completes fashion brand acquisition from JD Sports

3rd Mar 2023 17:29

Frasers Group PLC - Shirebrook, England-based owner of the Sports Direct, Frasers and Flannels retail chains - Completes the acquisition of fashion brand Topgrade Sportswear from its founders and sportswear retailer JD Sports Fashion PLC.

In December, Frasers GBP47.5 million deal to acquire 15 brands, including Topgrade Sportswear, from JD Sports Fashion. Earlier in February, Frasers said it would no longer buy the Rascal Clothing brand from JD Sports Fashion as one of its founders exercised a pre-emption right agreed as part of the JD Sports' acquisition of Rascal in February 2019.

Current Frasers stock price: 793.81 pence

12-month change: up 40%

Current JD Sports stock price: 181.60 pence

12-month change: up 38%

By Heather Rydings, Alliance News senior economics reporter

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