Frasers Group sells Bobs Stores and Eastern Mountain Sports for $70m

Frasers Group has sold Bob's Stores and Eastern Mountain Sports to US-based GoDigital Media Group for $70 million.
Frasers Group acquired Bob’s Stores in 2017.
// Frasers Group sells Bob’s Stores and Eastern Mountain Sports to GoDigital Media Group for $70m
// The retailer said the funds will be used for a general working capital pool

Frasers Group has sold Bob’s Stores and Eastern Mountain Sports to US-based GoDigital Media Group for $70 million.

The retailer group said that the sale did not include any of its “new elevated stores”, which are central to its elevation strategy of “focusing on store experience, digital and product”.

The company said: “The board of Frasers Group is grateful to staff in Bob’s Stores and Eastern Mountain Sports for their loyal service and wishes these businesses every success for the future.”


READ MORE: 


The sporting and fashion giant, which first acquired Bob’s Stores back in 2017, said the proceeds will go into its general working capital pool.

Shares in the business were up 0.2% to 635.00 pence each in London on Wednesday morning.

The move is part of new chief executive Michael Murray’s plans to take the Sports Direct-owner “forward into the next generation”.

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here