REG - Frasers Group PLC - Strategic investment in Accent Group Limited

FrasersAnnouncement

28/08/2024 07:00

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RNS Number : 8935B  Frasers Group PLC  28 August 2024

Date: 28 August 2024

 

 

FRASERS GROUP PLC

Strategic Investment in Accent Group

 

Frasers Group plc ("Frasers" or the "Group") is pleased to announce that it
has purchased a 14.65% strategic investment in Accent Group Limited
("Accent"), the leading retail and distribution business in the performance
and lifestyle market in Australia and New Zealand.

Accent is a premium distributor, bringing many of the worlds' best brands to
market. In Full Year 2024, Accent delivered AUD$1.6bn of sales from nearly 900
stores and websites, consisting of leading multi brand sports fashion stores,
vertical owned brands, and global exclusively distributed brands such as
Skechers, Hoka, UGG and Vans.

This strategic investment will enable Frasers to grow its presence in
Australia and New Zealand, a key market in the Group's ambition to become a
leading global sports retailer. To further underpin this partnership and help
to drive mutual opportunities, Accent has stated that it intends to offer
Frasers the opportunity to propose a director to join the Accent Board.

Commenting, Michael Murray, CEO of Frasers Group, said: "This investment is an
exciting step in the expansion of our international footprint, which is a key
growth driver for the Group.  Accent has built an incredible ecosystem of
sports and lifestyle brands in Australia and New Zealand.  They have a strong
platform across stores, digital, and distribution, offering a lot of potential
for Frasers concepts and brands. We are looking forward to working with the
Accent management team to unlock mutually beneficial opportunities for both
groups."

Commenting, Daniel Agostinelli, CEO of Accent Group said: "We have been in
discussions with Frasers Group for some time about a strategic relationship,
and have been impressed by its management team and believe that there is a
strong cultural alignment between both organisations.  We see the potential
for significant mutual opportunity with Frasers Group, and are excited by the
beginning of this new relationship between the organisations."

 

Ends

 

 

 

Frasers Group plc

 Robert Palmer, Company Secretary              T. 0344 245 9200

 LEI: 213800JEGHHEAXIJDX34                     E. company.secretary@frasers.group (mailto:company.secretary@frasers.group)
 Chris Wootton, Chief Financial Officer        T. 0344 245 9200

                                               E. financial@frasers.group
 Kathleen Glover, Frasers Group PR             T. 07878 771800

                                               E. fgpr@frasers.group
 Andrew Kasoulis, Investor Relations Director  T. 07826 532191

                                               E. Andrew.Kasoulis@frasers.group
 Rosie Oddy, Brunswick Group, PR Advisors      T. 07734 861279

                                               E. frasersgroup@brunswickgroup.com (mailto:frasersgroup@brunswickgroup.com)

 

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