Image: Frasers Group

    British retailer Frasers Group Plc plans to further expand its portfolio. On Wednesday, the parent company of retail chains such as Sports Direct and House of Fraser announced that it intends to submit a takeover bid for the Australian online retailer MySale Group Plc. The Frasers Group only acquired a 28.7 percent stake in the e-commerce specialist at the end of June, making it the largest single shareholder. The group is now planning to take over the company completely. He is offering the previous shareholders of MySale a purchase price of two pence per share. This puts the shares not yet owned by the Frasers Group at a total value of £13.6 million (€16.1 million).

    With the acquisition of MySale, the retailer, which has already acquired British clothing retailers I Saw It First and Missguided in recent weeks, intends to further advance its growth strategy. The acquisition would allow the group to “expand its footprint in Australia and surrounding regions faster than through organic growth,” according to a statement. In addition, the company’s business field is a good addition to the existing offers of the Frasers Group. MySale operates a number of online marketplaces for discounted products in Oceania and Asia. Items are offered in various categories, including fashion, household goods and cosmetics.

    Continue reading:

    • Frasers Group acquires fast fashion retailer I Saw It First
    • Frasers Group reports jump in earnings and expects further growth
    • Frasers Group takes a stake in Australian online retailer MySale
    • Frasers further increases stake in Hugo Boss
    • Frasers Group takes over insolvent fast fashion label Missguided