Frasers Group PLC Acquisition of Premium Fashion Brands (0553K)

TIDMFRAS TIDMJD.

RNS Number : 0553K

Frasers Group PLC

16 December 2022

Date: 16 December 2022

FRASERS GROUP PLC

("Frasers Group" or "the Company")

ACQUISITION OF PREMIUM FASHION BRANDS

Frasers Group announces the acquisition from JD Sports Fashion Plc ("JD") of JD's interests in the premium fashion brands Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop and Topgrade Sportswear (including Get The Label) (the "Businesses") by way of the acquisition of shares held by JD and the transfer of all of the indebtedness owing to JD by the Businesses, by, and to, subsidiaries of Frasers Group.

The amount payable for the acquisition of the shares and the indebtedness from JD is up to GBP47.5 million in the aggregate and will be funded from Frasers Group's existing cash resources. Completion of the acquisition of eight of the Businesses and the debt took place on exchange, with completion of the acquisition of the remaining seven Businesses (Cricket, Tessuti Scotts, Giulio, Choice, Rascal Clothing and Topgrade Sportswear (including Get The Label)) expected to take place in early 2023[1].

Ends

Frasers Group plc

   Robert Palmer, Company Secretary                         T. 0344 245 9200 
   LEI:213800JEGHHEAXIJDX34                                 E. investor.relations@frasers.group 
   Chris Wootton, Chief Financial Officer                      T. 0344 245 9200

E. financial@frasers.group

   Ronnie Laffar, Head of PR & Communications         T. 07585 886189

E. fgpr@frasers.group

   Rosie Oddy, Brunswick Group,                                  T. 07734 861279

PR Advisors E. frasersgroup@brunswick.com

   Numis                                                                          T. 020 7260 1000

Luke Bordewich

Stuart Ord

Ollie Steele

   Liberum                                                                       T. 020 3100 2000

John Fishley

Kane Collins

Nikhil Varghese

[1] Based on their latest filed individual annual accounts, the Businesses had aggregate gross assets of approx. GBP239 million and profit before tax of approx. GBP5.3 million.

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END

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(END) Dow Jones Newswires

December 16, 2022 10:45 ET (15:45 GMT)

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