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Frasers Group PLC (FRAS)

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Wednesday 01 June, 2022

Frasers Group PLC

Acquisition of Missguided

RNS Number : 4794N
Frasers Group PLC
01 June 2022
 

Date:  1 June 2022

 

FRASERS GROUP PLC

ACQUISITION OF MISSGUIDED

 

Frasers Group plc ("FG" or "The Group") announces that it has acquired certain intellectual property of the online women's fashion retailer, Missguided Limited  (in administration), Mennace Limited (in administration) and Missguided (IP) Limited for a cash consideration of £20 million. Following completion, the business will be operated by the administrator under a transitional agreement for a period of approximately 8 weeks. It is then the intention that Missguided will operate as a standalone business within the Group.

Michael Murray, Chief Executive of Frasers Group, commented: "We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of FG's platform and our operational excellence. Missguided's digital-first approach to the latest trends in women's fashion will bring additional expertise to the wider Frasers Group."  

 

Ends.

Frasers Group plc

Thomas Piper, Company Secretary  T. 0344 245 9200

LEI:213800JEGHHEAXIJDX34                                                       E. [email protected]

 

Chris Wootton, Chief Financial                                                    T. 0344 245 9200

Officer                                                                                              E. [email protected]

 

Ronnie Laffar, Head of PR &   T. 07585 886189

Communications                                                                            E. [email protected]

 

Rosie Oddy, Brunswick Group,                                                     T. 07734 861279

PR Advisors                                                                                      E. [email protected]

Numis

 

Luke Bordewich                                                                                T. 020 7260 1000

Ollie Steele

Duncan Wilson

 

Liberum

 

John Fishley                                                                                        T. 020 3100 2000

Kane Collins

Nikhil Varghese

 

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