Frasers Group PLC

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Frasers Raises Hugo Boss Stake to Nearly 48%

Frasers Group has increased its stake in Hugo Boss to almost 48% after a rejected takeover offer. The UK retailer, controlled by Mike Ashley, launched a voluntary €38-per-share cash offer in June for the shares it did not already own, valuing the remaining shares at roughly €2 billion, or about €2.7 billion for the whole company. Hugo Boss's management and supervisory boards urged shareholders to reject the bid as financially inadequate, but Frasers received valid acceptances for about 12.2 million shares, representing around 17.6% of the company's share capital and voting rights. Combined with its existing holding, Frasers now owns or has acceptances for about 47.9%, making it the largest shareholder but short of majority control. Hugo Boss supervisory board chair Stephan Sturm said the company appreciated Frasers' long-term commitment and looked forward to maintaining a constructive relationship.

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Frasers Group acquires Harvey Nichols out of insolvency

Frasers Group has acquired British luxury department store chain Harvey Nichols out of insolvency through a pre-pack administration on Aug. 13. The deal gives Frasers Group control of Harvey Nichols' six U.K. stores, online business, inventory, and more than 1,000 employees, while the retailer's existing liabilities are addressed through the administration process. The transaction value is approximately £40 million ($54 million), according to Forbes, though Frasers Group has not officially disclosed the purchase price. Harvey Nichols had warned it could collapse within a year without new investment, reporting a £105 million ($142 million) loss after tax for the year ended March 29, 2025. Frasers Group CEO Michael Murray said the turnaround will require tough choices and may result in a smaller business in the near term.

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Frasers Group acquires Harvey Nichols, warns of significant restructuring

Frasers Group has acquired Harvey Nichols from administrators FTI Consulting, including all six UK stores, the online business, existing inventory, international franchise agreements, more than 1,000 employees, and certain assets from the Dublin store. Frasers warned that Harvey Nichols has faced sustained trading and operational challenges and that significant restructuring and integration will be required, with a review and rationalisation of the store portfolio, organisational structure, operating model, and cost base. CEO Michael Murray said the turnaround will require tough choices, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols. The deal builds on Frasers' elevation strategy to strengthen its luxury positioning, and Harvey Nichols CEO Julia Goddard said the acquisition provides a strong platform for the next phase of the business's evolution.

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Frasers' Hugo Boss takeover offer becomes unconditional after EU clearance

Frasers Group's voluntary public takeover offer for Hugo Boss has become unconditional after receiving merger control approval from the European Commission. The UK retail group, already the largest shareholder with slightly more than 30%, is offering €38 per share in cash for the remaining shares. Hugo Boss management has urged investors not to accept, calling the consideration financially inadequate. The acceptance period has been extended to 13 August 2026. Hugo Boss reported revenue of €4.26bn and EBITDA of €781.5m for the 12 months to 31 December 2025.

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Frasers Group acquires Greaves Sports

Frasers Group has acquired Greaves Sports, a 96-year-old retailer operating one physical store in Glasgow and an e-commerce website. Greaves Sports assured customers that its Gordon Street store and online store will continue under the Greaves Sports brand with the same service and expertise, and that all gift cards and loyalty points remain valid. Frasers Group told Just Style the purchase reinforces its commitment to investing in Scotland and providing greater choice and enhanced in-store experiences, and confirmed the business will continue to trade under the Greaves branding. The acquisition follows Frasers Group's recent report of an 8.7% year-on-year revenue increase to £5.33 billion for fiscal year 2026, driven by international expansion and improved margins.

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Harvey Nichols bidders asked to commit up to £60m for turnaround

Suitors interested in acquiring Harvey Nichols have been asked to commit between £50m and £60m of investment to fund the department store chain's transformation plan. The capital would be used to refurbish the Edinburgh store, pursue overseas expansion, and invest in the brand's digital proposition. Next, Frasers Group, and Modella Capital have lodged interest, while international bidders including Dubai's Chalhoub Group and India's Reliance Retail are also examining offers. The required funding commitment raises questions about the sale process if the capital is not forthcoming. Harvey Nichols, owned by Sir Dickson Poon for 35 years, reported a 5% revenue decline to £204.8m and a pre-tax loss of £34m in the year to March 2024.

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Accent rejects Frasers takeover approach as materially inadequate

Accent Group has rejected an unsolicited takeover approach from UK retailer Frasers Group, calling the A$0.65 per share proposal opportunistic and materially inadequate. An independent board committee unanimously recommended shareholders reject the bid, noting the offer represents discounts of 19% and 36% to Accent's six-month and 12-month volume-weighted average prices and is below prices Frasers previously paid for shares. The committee also cited a possible conflict of interest from Frasers' dual role as major shareholder and commercial partner. Accent's chairman said the bid does not reflect the company's prospects under its 2030 strategic growth plan, which targets sales of at least A$1.9 billion and a 9% EBIT margin.

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Mike Ashley says £1.7bn Hugo Boss takeover offer is ‘final’

Mike Ashley's Frasers Group has declared its £1.7 billion all-cash takeover bid for Hugo Boss final, giving the German fashion house until July 27 to decide. Frasers said it will not increase the €38 per share offer, which represents less than a 5% premium to the pre-bid closing price. The group already holds a 26% stake in Hugo Boss and backs the current management team and strategy, pledging to limit dividends to the legally required minimum. Hugo Boss shares dipped slightly to €37.57 following the update, after having climbed above the offer price since the bid was announced earlier this month.

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Frasers Group publishes offer document for voluntary public takeover of HUGO BOSS

Frasers Group plc has published the offer document for its voluntary public takeover offer for all outstanding shares of HUGO BOSS AG. The German version and a non-binding English translation are available free of charge from BNP Paribas in Frankfurt and online at https://www.fg-germany.com. The offer, approved by the German Federal Financial Supervisory Authority, is governed exclusively by German law. Frasers Group may also acquire HUGO BOSS shares outside the offer under certain conditions, with any higher consideration triggering an adjustment of the offer price.

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Boohoo blocks shareholder vote on executive pay to disarm Mike Ashley revolt

Boohoo has blocked shareholders from voting on executive pay this year, a move aimed at disarming a revolt by its largest investor Mike Ashley. In its annual report, the company, which rebranded as Debenhams last year, said it would not put pay to a shareholder vote because of a significant investor seeking to disrupt its growth strategy, believed to be a reference to Ashley's Frasers Group, which holds a nearly 27 percent stake. Frasers Group was among 40 percent of shareholders who voted against Boohoo's remuneration policy last year, and two advisory firms urged rejection of a 2 million pound cash-and-share bonus for chief executive Dan Finley. Boohoo also sidelined shareholders in November on a proposed bonus scheme that could see Finley pocket 150 million pounds if he meets share price targets, while his base salary of 650,000 pounds will remain level next year. The retailer's full-year revenue dropped by a quarter to 917 million pounds, with pre-tax losses narrowing to 109 million pounds from 353 million pounds.

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