UK retailer Frasers raises stake in Hugo Boss to nearly 48%
Frasers said the €1.98 billion offer values the German fashion house at about €38 a share after management rejected an earlier approach.
- On Tuesday, Hugo Boss formally acknowledged that Frasers Group increased its shareholding to nearly 48%, making the retail giant the German menswear brand's single largest shareholder following its voluntary public takeover offer.
- Frasers launched a roughly 2 billion euro bid in June, offering about 38 euros per share, but Hugo Boss's management and supervisory board rejected the deal as "inadequate from a financial point of view."
- Stephan Sturm, chairman of Hugo, argued the bid failed to capture the brand's "future value creation potential," while the board remains committed to its "Claim 5 Touchdown" strategy through 2028.
- Analysts at Jefferies described the move as designed to formalize Frasers' exposure to a key partner while crossing the 30 percent threshold that triggers mandatory offer rules under German law.
- The investment supports Frasers' "elevation strategy" aimed at expanding its luxury market presence via the Flannels brand, while Chief executive Daniel Grieder confirmed the board will maintain a constructive relationship with Frasers.
23 Articles
23 Articles
The British Frasers Group has significantly increased its share of Hugo Boss, but it has not been enough for a majority of the Swabian fashion group.
Frasers has not (yet) succeeded in acquiring Hugo Boss - RetailDetail EU
The British retail giant Frasers Group, which recently acquired the department store chain Harvey Nichols, now holds a stake of just under 48% in Hugo Boss. However, its attempt to gain full control failed: only 17.6% of shareholders accepted the public takeover bid.
Despite increased participation, Hugo Boss is committed to cooperating with Frasers Group and wants to continue the course chosen.British major shareholder Frasers Group has further increased its stake in Hugo Boss and has narrowly missed the complete takeover of the clothing manufacturer. Frasers has expanded its stake in the fashion group to 47.89 percent, the British announced on Tuesday. They have been trying to take over the helm of the Swa…
Despite increased participation: Hugo Boss relies on cooperation with the Frasers Group and wants to continue the course taken.
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