Next buys high street rival Fat Face for £115.2m
Next will buy over 200 UK FatFace stores for £115.2million. It is just the latest store to be snapped up by the retailer post-pandemic.
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Next will buy over 200 UK FatFace stores for £115.2million. It is just the latest store to be snapped up by the retailer post-pandemic.
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.
Sky News reports that Next is putting together the "finishing touches" to an acquisition deal for FatFace and that a deal could be announced as soon as later this week
Apparel retailer Next PLC (NXT.L), is set to acquire FatFace a chain of fashion stores in the U.K. for more than 100 million pounds, according to Sky News. FatFace, founded in 1988 by Tim Slade and Jules Leaver, sells women's, men's, kids, clothing, footwear, and accessories and has around 180 stores.
Earlier this week it was revealed that Fat Face’s owners, comprising a consortium of banks and debt funds, including Alcentra, Goldman Sachs, HIG and