Next buys £128m stake in Reiss from private equity firm

Reiss One New Change

Fashion giant Next has confirmed the purchase of private equity firm Warburg Pincus’ 34% stake in Reiss, upping the retailer’s total stake to 72%.

Next has bought out the private equity firm for £128m and the terms of the transaction, which is expected to be complete in October, have been agreed with the Reiss family.

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