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Next PLC on Friday said it agreed to substantially boost its interest in the Reiss Group, buying an extra 21% stake for GBP128 million. Leicester, England-based clothing, footwear and home products...
Enderby retail giant enters partnership to secure an extra 34% of the fashion firm
Fashion retailer Next has joined forces with the Reiss family to acquire a significant stake in the Reiss Group.
Next Plc has taken a 34% stake in Reiss from Warburg Pincus in a £128m deal, which takes its ownership in Reiss Group from 51% to 72%.
Next will acquire the entirety of Warburg Pincus’ 34 percent interest in the label for 128 million pounds.