Frasers Group in talks to acquire Matches Fashion
Frasers Group is in talks to acquire luxury clothing retailer Matches Fashion.
According to a report by Sky News, the group is in detailed negotiations over a deal that could see it taking ownership of the business within days. The report also stated that Frasers would be likely to pay in excess of £50 million for the purchase if the deal goes through.
Sky said city sources had told it that Frasers Group is one of a small number of bidders that submitted offers early last week. It also said that Next is understood to have expressed an interest in the business.
Backed by private equity firm Apax Partners since 2017, Matches has struggled in recent years but its performance has improved following the appointment of former ASOS head Nick Beighton as its chief executive last year.
