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Date: October 2023
Buyer: Next
Target: FatFace
Business: Lifestyle Fashion
Value: £115.2m
Details: Next has announced its plans to acquire FatFace, the lifestyle clothing brand, for £115m. FatFace began as a skiwear retailer in the 1980s and became very popular during the ‘BoHo’ and surfer fashion trends of the mid-2000s, expanding to over 200 stores across the UK and North America currently. Going forward, FatFace’s management will own a 3% stake in the business, while Next will acquire the remaining 97%. The acquisition comes after a period of strong financial results for FatFace, and the deal is rumoured to include the right for FatFace management to participate in a performance-related equity scheme. It is expected that FatFace’s existing board of directors will remain in place and retain control over the day to day running of the brand. Next has been a commercial partner of FatFace for some time, with its clothing being available sold in Next’s stores and on its website for several years.
