Frasers set to ride off with cycling products specialist

Frasers Group, the Shirebrook-based retail group, could be about to snap up ProBikeKit (PBK), the cycling products supplier.

Reports from Sky News suggest that Fraser Group is close to a deal to but the stock and IP from THG, the listed nutrition and beauty firm.

Sky News said the deal could be finalised later this week.

The deal comes as THG is in the process of selling off or closing some of its non-core subsidiaries. TGH bought PBK in 2013; the firm sells clothing and accessories from the likes of Adidas, Raleigh and Michelin.

Sky News says the deal, which won’t include any monetary exchange, will be completed through Frasers Group’s Evans Cycles business, which it acquired in 2018.

Frasers Group recently bought the CBS Arena in Coventry, while rumours abound that it will move its headquarters to the West Midlands city in the near future.