It appears that Next is on the verge of finalising a £100 million takeover deal for the fashion retailer FatFace. Sky News has reported that the negotiations are in their concluding stages, marking a swift turn of events merely three years after FatFace was acquired by its creditors. The announcement of this deal may happen later in the current week.
Last year, FatFace’s owners sought the counsel of Rothschild advisors to explore their strategic options. Should this takeover succeed, it will join a growing list of acquisitions by Next, solidifying the company’s reputation as a prominent purchaser of competing high street fashion chains.
In September, Next made headlines by becoming the majority shareholder in Reiss, following the purchase of Warburg Pincus’ interests for £128 million. Meanwhile, FatFace has reported a remarkable threefold increase in profits to £17.3 million, attributed to its ongoing investment in expanding its store network and fortifying partnerships with third-party collaborators.
