JD Sports Sells 15 Retail Brands to Mike Ashley

Several of the biggest businesses in the North West made a lot of high-profile announcements in 2022. JD Sports, THG, and Frasers Group are just a few of the well-known firms with roots in the North West. That company owner has sold or purchased in the last year.

In 2022, JD Sports was frequently in the news thanks to a series of high-profile announcements and changes at the top of the retail behemoth.

The first was when JD Sports sold Rochdale-based Footasylum to German asset management company Aurelius Group for around £40 million.

The second was the organization that sold Mike Ashley’s Frasers 15 retail brands.

Speaking about Frasers Group, this year has seen significant activity in the region of the North West.

The proprietor of House of Fraser and Sports Direct has acquired JD Sports’ stakes in the following companies: Base Childrenswear, Choice, Clothing sites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop, and Topgrade Sportswear (including Get The Label).

The acquisition might cost up to £47.5 million. JD Sports will pay out of the current funds on hand at Frasers Group.

Early in the next year. It is anticipated that JD Sports will finalize. The agreements with Cricket, Tessuti Scotts, Giulio, Choice, Rascal Clothing, and Topgrade Sportswear (including Get The Label). The agreements with the other companies were finalized through the exchange.JD Sports

business owners reach an agreement when the two bitter competing business owners left their positions.

Mike Ashley Resignation

Former Newcastle United owner and billionaire Mike Ashley resigned from his position as Frasers’ chief executive earlier this year. Peter Cowgill, the former executive chairman of JD Sports, recently left the company as well.

He quit after JD Sports’ planned merger with Footasylum encountered issues with the competition watchdog.

We are happy to have reached an agreement on the sale of these desirable but non-core brands, and I would like to extend my sincere gratitude to all of my coworkers at the businesses involved in the transaction for their dedication and years of service to the group.

JD sports got advice

JD Sports received advice on the deals from Addleshaw Goddard’s Manchester office. Sam Wright, Dan Sweeney, Greg Carr, Charlotte Andrews, Elizabeth Oakley, Nadine Waters, and David Auty were all members of the AG team. Roger Hart chaired it. 

The long-running administration of the founding firms of Liam Gallagher’s old clothing line Pretty Green came to an end in September when the consulting firm in charge of the procedure petitioned for dissolution, according to today’s news.

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