// Frasers Group is set to acquire cycling goods specialist ProBikeKit
// The group is close to securing a deal with THG for the brand’s stock and intellectual property assets
Frasers Group is in advanced talks to acquire THG-owned cycling goods specialist ProBikeKit.
The group is understood to be close to securing a deal for the brand’s stock and intellectual property assets, Sky News reported.
Sources said the acquisition of the cycling clothing and accessories retailer could be finalised and announced in the next few days.
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The agreement is expected to be handled through Fraser’s Evans Cycles subsidiary, which it snapped up in 2018.
The ProBikeKit deal would not be material in financial terms for either party but follows the news that THG is to close or sell several of its non-core subsidiaries.
Last week, the online nutrition and beauty retailer’s shares tumbled 9.4% after it terminated talks with private equity giant Apollo about a possible takeover deal.
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