JD Sports is selling 15 non-core, U.K.-based fashion businesses to Frasers Group for cash consideration of up to £47.5 million (€54.9m). The divestiture will result in JD taking a non-cash exceptional charge of up to £100 million and shifting more focus to the international and digital businesses of its core premium sports fashion brands.
Frasers Group has already completed the acquisition of eight businesses, with transactions on the remaining seven slated to take place in early 2023. The 15 fashion brands being acquired are Base Childrenswear, Choice, Clothingsites, Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti, Scotts, Watch Shop and Topgrade Sportswear.
