Frasers snaps up 15 brands from JD Sports
Frasers group, who own House of Fraser and Sports Direct, have purchased 15 brands from JD Sports for up to £47.5m.
The group has purchased JD’s interests in Base Childrenswear, Choice, Clothingsites, Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti, Scotts, Watch Shop and Topgrade Sportswear.
JD Sports says the deals were made following a strategic review led by its chief executive, Régis Schultz.
A statement from the group said: “The divestment of these businesses will allow the group 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.”
Schultz added: “JD is rightly recognised for its laser focus on the customer and we are convinced that the most significant opportunities lie in the continued international development of the group’s global sports fashion businesses.
“We are pleased to have agreed the sale of these attractive, but non-core, brands”.