Frasers plots £166 million deal to buy all of retailer Accent
Frasers Group PLC on Monday said it has made a £166 million tilt at acquiring all of footwear retailer Accent Group Ltd.
The Sports Direct, House of Fraser and Flannels owner already has a 22.9% stake in Accent. It will look to acquire the remaining shares at A$0.65 each in cash, so A$316 million, around £166 million, in total.
Accent Group shares jumped 15% to A$0.75 in Sydney on Monday, for an A$450.9 million market capitalisation.
Frasers said the on-market offer begins on June 30, concluding a month later.
Barrenjoey Markets Pty Ltd has the broker in connection to the offer, acquiring the shares on behalf of Frasers.
Frasers back in August 2024 said it purchased a 14.65% strategic investment in Accent. The Shirebrook, England-based firm said at the time the investment would grow its presence in Australia and New Zealand.
Chief Executive Michael Murray said: ‘This investment is an exciting step in the expansion of our international footprint, which is a key growth driver for the group. Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand. They have a strong platform across stores, digital, and distribution, offering a lot of potential for Frasers concepts and brands.’
It then lifted its Accent stake to 19.57% in April 2025, in a deal which saw the launch of Sports Direct in Australasia.
On Wednesday, Frasers announced a voluntary public takeover for Hugo Boss AG, in which it holds an around 26% stake. It said said it intends to offer €38.00 per share, or €1.98 billion in total, to acquire remaining stake in the Metzingen, Germany-based fashion company.
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