Frasers Group has made an offer for Australian flash Sales website MySale as the retail group seeks to further bolster its roster of recent acquisitions.
Frasers Group, which is already MySale’s largest shareholder with a 28.7% stake, has made a cash offer of 2p per share for the etailer’s remaining shares, valuing them at £13.6m.
The retail group said the acquisition of MySale would allow it “to increase its presence in Australia and the surrounding regions at a faster rate than via organic growth” as the business has “extensive ambitions to grow its business outside of the UK”.
Frasers Group said it is “exploring the potential for further international expansion through acquisitions, joint ventures and organic openings”, and that adding MySale to its war chest would allow it to further drive this ambition.
It said acquiring the flash Sales platform would also allow it to clear end-of-line products from across the group.
Frasers snapped up its existing shares in MySales in June. If its offer is accepted, it would mark the group’s fourth ecommerce acquisition so far this year, alongside Studio Retail and fast fashion brands Missguided and I Saw It First.
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