Frasers Group advances N Brown takeover amid Mulberry interest
- Frasers Group intends to sell its 20.3% stake in UK-based N Brown to Joshua Alliance for £191 million.
- The company is also pursuing a £111 million acquisition of luxury brand Mulberry after a previous offer was rejected.
- These strategic moves demonstrate Frasers Group's commitment to expanding its presence in the retail market.
In October 2024, Frasers Group, which operates well-known retail brands such as Sports Direct and Flannels, announced its intent to sell its 20.3% stake in N Brown, a UK-based online fashion retailer, to Joshua Alliance for £40 per share. This transaction, valued at £191 million, will yield Frasers Group approximately £37.9 million. The Alliance family, which has historical ties to N Brown, controls 53.4% of the company, establishing a strong foundation for the takeover. Additionally, Frasers Group is pursuing a deal to acquire luxury handbag maker Mulberry, having made an improved bid of £111 million after a previous offer was declined. Mulberry has indicated it will consider this latest proposal while maintaining a cautious stance given the majority shareholder's lack of interest in selling. Frasers' strategic approach reveals a focus on consolidating its position in the retail market by aligning with strong brands and families within the sector. The company's ongoing negotiations with both N Brown and Mulberry highlight its commitment to growth and collaboration despite challenges. The unfolding dynamics of these transactions emphasize the competitive landscape in the retail industry and Frasers Group's tactical maneuvers to fortify its market presence through these acquisitions.