Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Next in talks to buy fashion brand FatFace in £100M deal

by October 12, 2023
October 12, 2023
Next in talks to buy fashion brand FatFace in £100M deal

The clothing brand FatFace is poised to become the latest high street fashion retailer to be taken over by Next, in a deal thought to be worth more than £100m.

FatFace, which sells clothes, footwear and accessories, is expected to be bought by the FTSE 100 high street fashion chain and a deal could be announced by the end of the week, according to Sky News, which first reported on the matter.

The prospective tie-up underlines Next’s status as Britain’s most prolific buyer of rival high street brands, having snapped up Cath Kidston, Made.com and JoJo Maman Bébé since the Covid pandemic.

FatFace was founded in 1988 by friends Tim Slade, a former police officer, and Jules Leaver, a business graduate. It now has more than 180 stores in the UK and 20 in the US.

The pair first sold 40% of the business for £5m in 2000 to the private equity firm Livingbridge, which sold its stake to Advent International five years later.

The lifestyle brand was eventually acquired by Bridgepoint Capital in 2007 as part of a deal worth £360m that reportedly netted Slade and Leaver £90m. The private equity firm moved to list it in London in 2014 but later cancelled the flotation plan because of lack of confidence.

By mid-2020, when the pandemic was affecting high streets, FatFace was taken over by its current owners, a group of lenders including the debt investor Alcentra, Goldman Sachs and Lloyds Bank, in a debt-for-equity swap.

FatFace’s debts were reduced from £146.8m to £25.6m, freeing it up to carry on trading throughout Covid. Sales have since returned to pre-pandemic levels.

The company’s owners were reported to have appointed bankers to advise on strategic options, including a potential sale, in May last year.

Last month Next increased its stake in Reiss to 72% in a deal that valued the fashion retailer at almost £400m.

It had built a 51% stake in the business since 2021 and the Reiss family have struck a £128m deal to buy a 34% shareholding from the private equity company Warburg Pincus. After the completion of the deal, Next will control 72% of the retailer – a favourite of the Princess of Wales – the Reiss family will own 22% and the company’s management team will control 6%.

Read more:
Next in talks to buy fashion brand FatFace in £100M deal

0
FacebookTwitterGoogle +Pinterest
previous post
Former Conservative business minister Anna Soubry says she will vote Labour
next post
Millions of gig workers and people with side hustles braced for tax crackdown

You may also like

Parents face potential £3,800 increase in bill to support...

July 2, 2024

Reddit Shares Surge Following OpenAI ChatGPT Partnership

May 17, 2024

UK economy contracts again in October, defying hopes...

December 13, 2024

The Future of AI Translation: Why User-Driven Customization...

February 17, 2025

Investing in Gold Bars & Using a Singapore...

August 2, 2024

Royal Mail boss quits after just one year...

June 20, 2025

Reeves’s business inheritance tax shake-up ‘will cost exchequer...

December 16, 2024

Funding Circle looks to sell US arm and...

March 7, 2024

HMRC blasted for taking over THREE years to...

August 11, 2023

Retail boss reveals plans to re-open 50 Wilko...

November 29, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • All-Time Highs and An Upcoming Rate Cut: We’re Just Getting Started on This Move Higher

      June 27, 2025
    • Trump celebrates Supreme Court limits on ‘colossal abuse of power’ by federal judges

      June 27, 2025
    • Second Amendment ‘setback’: Gun tax cuts stripped from Trump’s ‘big, beautiful bill’

      June 27, 2025
    • Don’t Give Big Businesses Immunity from Litigation

      June 27, 2025
    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,077)
    • Politics (15,831)
    • Stocks (3,174)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved