Wednesday 10 June 2026 7:34 pm
| Updated:
Wednesday 10 June 2026 7:39 pm
Mike Ashley’s Frasers Group has moved to tighten its grip on German fashion giant Hugo Boss, tabling a takeover offer in a deal that values the brand at nearly €2bn.
The retail empire, which spans Sports Direct and Flannels, already sits as Hugo Boss’s largest investor with a stake north of 25 per cent, and has now made its play to push beyond a blocking minority position.
Frasers is offering €38 a share for the portion of the business it does not already own. The prior closing price in Frankfurt for the stock ended slightly above €36. If successful, the deal would be worth around €1.98bn (£1.73bn) and is expected to complete in the second half of the year, subject to regulatory approval.
Hugo Boss has yet to publicly respond to the approach, which values the group at a small premium of just over four per cent.
In a statement, Frasers sought to position the move as an extension of its long-term commitment rather than a break with management, describing Hugo Boss as a “key brand partner” and one of its most important relationships across the wider group.
“Hugo Boss is a key brand partner for Frasers, and one of the top five brands across the Frasers group”, the company said.
“Frasers is a long-term investor in Hugo Boss and remains supportive of both Stephan Sturm, the chair of the supervisory board, and Daniel Grieder, Chief Executive Officer, in pursuit of their sustainable growth strategy whilst continuing to build brand equity.
“Frasers’ board of directors believes that increasing Frasers’ investment in Hugo Boss will create value for Frasers’ shareholders.”
In March City AM revealed Frasers took a stake in athletic giant Puma.
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