The retail empire owned by billionaire Mike Ashley has bought into fashion giant Boohoo. Frasers Group, which owns brands such as Sports Direct and House of Frasers, has become one of the largest single shareholders in the Manchester-headquartered giant.
The move comes after the group recently invested £75m in Bolton-headquartered electricals group AO before later increasing its stake to just over 21% to become its largest shareholder. Join our WhatsApp Top Stories and Breaking News group by clicking this link Over the last 18 months, Frasers Group has acquired Lancashire-headquartered Studio Retail as well as Manchester's Missguided out of administration.
It also bought Manchester-based I Saw It First while it has been building a sizeable stake in fashion group N Brown, which is also headquartered in the city.
Frasers Group now owns 5% of Boohoo, which is listed on the London Stock Exchange and is worth around £440m. Co-founder Mahmud Kamani remains the largest shareholder while other investors include Camelot Capital Partners, T.
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