British fashion giant Frasers Group has completed its acquisition of five brands from rival JD Sports.
The group, whose fast-growing portfolio includes Sports Direct, House of Fraser, and Jack Wills, announced in December it had reached an agreement to buy 15 brands from JD in a deal worth 47.5 million pounds.
On Wednesday, Frasers Group confirmed it had completed the acquisition of five of the remaining seven brands: Cricket, Tessuti, Scotts, Giulio, and Choice.
It also added that its planned acquisition of JD’s Rascal Clothing brand will no longer go ahead.
JD to focus on core brands
JD said in December its divestment would allow it to focus on its core premium sports fashion labels, which include JD Sports itself, as well as Size?, Foot Patrol, and Shoe Palace, among others.
CEO Régis Schultz said at the time: “JD is rightly recognised for its laser focus on the customer and we are convinced that the most significant opportunities lie in the continued international development of the group’s global sports fashion businesses.”
It comes as Frasers Group pushes forwards with its aggressive expansion strategy, which sees its snapping up smaller or struggling rivals and investing in more upmarket brands.
In the past year the group has acquired Missguided, Studio Retail, and I Saw It First, among others, and has snapped up stakes in the likes of Hugo Boss, Mulberry, and N Brown.