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NEXT, a fast fashion brand is on track to snap up another fashion franchise, FatFace, in a £100 million deal.
According to Sky News, these two fashion labels will close this deal in the coming week.
In this latest high street buy, if proceeds, it would submit 200 FatFace UK stores under the acquisition of NEXT. Moreover, the overtake of FatFace by lenders has expedited this acquisition.
In recent years, NEXT Clothing has expanded its franchise significantly by gobbling up big fashion houses. Recently, this British multinational brand has boosted its shares in Reiss by 72% after acquiring private equity firm Warburg Pincus shares.
Similarly, to name a few, it has acquired the ownerships of Made.com for £3.4m, Joules for £34m, and Cath Kidston for £8.5m.
Also, in 2022, NEXT co UK acquired a 44% stake in a UK company, JoJo Maman Bebe.
FatFace, a British lifestyle brand, ran under the ownership of Bridgepoint from 2007 through 2020. Afterward, a consortium of lenders, including Goldman Sachs and Lloyds Bank, took over this space for its crumbled financial status during the COVID-19 pandemic. Ultimately, that acquisition decreased its debt from £146.8m to £25.6m.
