Frasers continues acquisition streak with stakes in Currys and Boohoo

The retailer said today that “driving growth through strategic investments is a core part of Frasers’ DNA” and added that Boohoo is “an attractive proposition” as it eyes “potential synergies” with its other fashion brands including Missguided and I Saw It First. 

Currys is the second electricals business that Frasers has invested in after the group announced its “strategic partnership” with AO.com last week.

Frasers acquired an 18.9% stake in the business for a sum of £75m increasing the stake to 21.3% later in the week.

At the time, AO said the move was the culmination of two years of discussion between the two brands.

In today’s statement on the London Stock Exchange, Frasers said: “Under Michael Murray’s leadership, we continue to build on our long track record of establishing supportive shareholder positions in attractive retail companies. 

“We have a clear strategy to identify opportunities to invest in businesses that complement our existing sport, premium and luxury businesses, or help us to build and further utilise our sector-leading ecosystem.

“Boohoo is an attractive proposition to us with its laser focus on young female consumers. We see potential synergies and an opportunity to strengthen our own brand proposition in collaboration with Boo Hoo, most obviously with Frasers Group brands I Saw It First and Missguided.”