Sale Sharks owners move to buy Cheshire clothing company

 

The Investment fund company which owns Sale Sharks Rugby Club has struck a deal to buy Cheshire based retailer Cotton Traders.

CorpAcq has agreed a deal to buy the firm which was set up 30 years ago from the founders former England rugby players Fran Cotton and Steve Smith.

The move has come at a time when the retail sector has been hit by a combination of a slump in spending and a shift in consumer habits.

But CorpAcq, which has bookmaker Fed Done as an executive director, is planning to invest in the brand.
There are plans in place to expand the online business, expand overseas and launch new ranges.
Nick Hamblin, the chief executive of Cotton Traders, told the Daily Telegraph the move comes during “a time of strong growth for the business”.

 

Fran Cotton and Steve Smith have seats on the board of Sale Sharks and will remain with the firm when the deal goes through.

Cotton Traders saw a 5.5% rise in sales to £86.7m last year and a 5.2% increase in operating profit to £8.1m. It has 120 stores and around 950 staff.

CorpAcq owns more than 14 businesses ranging from plumbing and heating to fork lift truck specialists.

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