Frasers Group has launched an all-cash takeover offer for Australian retailer Accent Group, in a move to acquire the remaining shares it does not already hold.<\/p>\n
Frasers already holds a 22.9% stake in the business and has offered \u00a3166m (A$316m) for the remaining shares, with shareholders offered 13p (A$0.65) per share in an unconditional cash offer.<\/p>\n
Accent Group is a retailer and distributor of lifestyle and performance footwear and clothing across Australia and New Zealand, operating more than 900 physical stores alongside multiple e-commerce platforms.<\/p>\n
The business runs over 20 retail banners, including well-known brands such as The Athlete\u2019s Foot, Platypus Shoes, Skechers, Hype DC, Stylerunner and Nude Lucy. It also distributes major global footwear and apparel labels across the region, including HOKA, UGG, Vans, Dr. Martens, Merrell and Timberland.<\/p>\n
The offer has been announced via the Australian Securities Exchange (ASX), with Frasers also lodging its bidder\u2019s statement with regulators in Australia.<\/p>\n
The takeover period is scheduled to run from 30 June to 30 July 2026, unless extended or withdrawn.<\/p>\n
Ahead of the formal process, Frasers has appointed Barrenjoey Markets to purchase shares on-market from 15 June at the offer price, allowing shareholders to sell immediately with cash settlement within two trading days.<\/p>\n
Frasers Group, valued at around \u00a33.45bn, owns a portfolio of retail brands including Sports Direct, Flannels, Frasers department stores and Evans Cycles, and has been steadily expanding its international footprint through acquisitions and strategic investments.<\/p>\n
Mike Ashley, who founded the business in 1982 and remains its largest shareholder with a 73% stake, stepped back from day-to-day management in 2022 when Murray became chief executive.<\/span><\/p>\n If completed, the deal would give Frasers full ownership of Accent Group and further strengthen its position in the Australian retail market.<\/p>\n","protected":false},"excerpt":{"rendered":" Mike Ashley\u2019s retail empire is pushing deeper into Australia with a cash bid for the rest of a footwear and clothing giant it already partly owns<\/p>\n","protected":false},"author":266702,"featured_media":2111513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47995],"coauthors":[127717],"class_list":["post-2111508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","tag-derbyshire","tag-top-story"],"yoast_head":"\n