Next nears £100m FatFace takeover deal
According to Sky, Next is now putting the ‘finishing touches’ on a deal to acquire the clothing brand
Next is reportedly nearing a deal to acquire FatFace as part of its latest takeover move, in a deal that is said to be worth more than £100m, according to Sky News.
According to Sky, Next is now putting the “finishing touches” on a deal to acquire the clothing brand, whilst sources told the publication a deal could be announced later this week.
The move would mark the latest in several acquisitions for Next. The group recently upped its stake in Reiss to 72%, after reports it was mulling a potential deal for the group. Last August, it upped its stake in Reiss to 51%, having previously acquired a 25% equity stake back in March 2021.
Earlier this year it also acquired the brand name, domain names and intellectual property of Cath Kidston for £8.5m.
Last December, Joules confirmed that its founder Tom Joule partnered with Next to acquire the majority of assets of Joules for a total cash consideration of £34m.
The month before, Next acquired the Made.com brand for £3.4m following the furniture retailer’s collapse into administration.
The group has also made other investments into JoJo Maman Bébé, Sealskinz, Swoon and Aubin, along with a stake in the UK franchises for Victoria’s Secret and GAP. Last year, these investments delivered a £16.8m profit to the group.
The owners of FatFace reportedly appointed Rothschild to advise on strategic options for the group last May, according to Sky.
Next and FatFace have been contacted for comment.
