// JD Sports has formally completed the divestment of brands to Frasers Group, including Tessuti, Scotts, Choice & Giulio
// Rascal Clothing, which was originally slated for sale, has been withdrawn from the deal
JD Sports has formally completed the divestment of non-core UK fashion brands to Frasers Group.
Brands including Tessuti, Scotts, Choice, Giulio and Cricket brands have all been sold to Mike Ashley’s Frasers under the terms outlined on 16 December 2022, a statement on London Stock Exchange said.
But, Rascal Clothing was withdrawn from the deal due to one of the founders exercising a pre-emption right, which was agreed upon as part of JD’s acquisition in February 2019.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
JD said it expects the divestment of Topgrade Sportswear to be completed in due course and that, despite the removal of Rascal Clothing, “all the terms of the transaction remain as outlined in the announcement made on 16 December 2022.”
The sporting retailer has held on to a select group of branded fashion retailers including Oi Polloi, Hip Store, Wellgosh, Philip Brown, 80s Casual Classics and Mainline Menswear.
Click here to sign up to Retail Gazette‘s free daily email newsletter
