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Acquisition of House of Fraser

Released 09:51 10-Aug-2018

RNS Number : 4671X
Sports Direct International Plc
10 August 2018
 

10 August 2018

 

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

 

Acquisition of House of Fraser   

Sports Direct International plc ("the Company" or "the Group") announces the acquisition of the business and assets of House of Fraser from the administrators of House of Fraser Limited, House of Fraser (Stores) Limited and James Beattie Limited, the House of Fraser group's main operating companies (the "Operating Companies"), for a cash consideration of £90 million (the "Transaction").

Pursuant to the Transaction, the Group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business.

 

For the year ended 28 January 2017 (the last date to which statutory accounts are available for the parent company of the Operating Companies and prior to the appointment of the administrators), the House of Fraser group had gross assets of £946.3m and made £14.7m net profit.    

 

Ends.

 

Sports Direct International plc

Cameron Olsen, Company Secretary

LEI: 213800JEGHHEAXIJDX34

 

 

T. 0344 245 9200

E. investor.relations@sportsdirect.com

KBA PR                                 

Keith Bishop

 

T. 0207 734 9995

E. sd@kbapr.com

 

 


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Acquisition of House of Fraser - RNS