Frasers Group makes €1.98bn takeover offer for Hugo Boss
8 reported
Mike Ashley’s retail group, Frasers, has launched a near-€2bn takeover offer for the German luxury fashion brand Hugo Boss. Frasers, which already owns 26% of Hugo Boss, is offering to pay about €1.98bn (£1.73bn) for the remainder of the business. The offer would see Frasers pay €38 a share to investors, while Hugo Boss shares closed at €36.44 on Wednesday. The bid follows speculation in recent years that Frasers could seek a takeover, having built up its stake since first investing in 2020. Frasers’ chief executive, Michael Murray, is a member of Hugo Boss’s supervisory board, but the company stated he did not participate in the board’s discussion or decision to make the offer. The offer is expected to go to a shareholder vote, and Frasers hopes to complete the deal in the second half of this year if approved and regulatory approvals are granted. If successful, the takeover would add Hugo Boss to a group that includes Frasers department stores, Flannels, and Evans Cycles.
What’s reported
Frasers Group has launched a takeover offer for Hugo Boss valued at about €1.98bn (£1.73bn).
Frasers already owns 26% of Hugo Boss and is offering €38 per share for the remainder.
Hugo Boss shares closed at €36.44 on Wednesday.
Frasers has steadily built its stake since first investing in Hugo Boss in 2020.
Michael Murray, Frasers’ CEO, is a member of Hugo Boss’s supervisory board but did not participate in the offer decision.
The offer will go to a shareholder vote and is expected to complete in the second half of 2026 if approved.
Frasers Group has a current market value of £3.45bn.
Mike Ashley retains a 73% stake in Frasers Group.
Key figures
Mike Ashley: founder and majority stakeholder (73%) of Frasers Group.
Michael Murray: chief executive of Frasers Group and member of Hugo Boss’s supervisory board.
Stephan Sturm: chair of the supervisory board of Hugo Boss.
Daniel Grieder: chief executive of Hugo Boss.
Sources: The Guardian
