Frasers Group has acquired children’s cycle brand Frog Bikes after the business fell into administration earlier this year.
The Sports Direct owner, controlled by retail tycoon Mike Ashley, struck a deal for the brand following a sales process run by administrators at FRP Advisory, according to Sky News.
The value of the transaction has not been disclosed, but the deal is understood to have completed in recent days after attracting interest from several potential buyers.
Frog Bikes was founded in 2013 by Jerry and Shelley Lawson and has sold more than half a million bikes since launch. The brand, which has counted Prince Louis among its customers, operates from a 120,000 sq ft facility in Pontypool, Wales.
The acquisition marks the latest opportunistic deal by Frasers, which has built a reputation for buying distressed retail assets and turning them around.
The group bought Evans Cycles out of administration in 2018 and has since added brands including Jack Wills, Gieves & Hawkes and House of Fraser to its portfolio.
Frasers has also been expanding its interests beyond traditional retail. Earlier this week, the group acquired York Designer Outlet and East Midlands Designer Outlet as it looks to strengthen its position in the UK outlet market.
The two centres attract almost 7.8 million visitors a year and mark the latest move in the retailer’s growing property strategy.
Ashley remains Frasers Group’s majority shareholder, although day-to-day leadership sits with chief executive Michael Murray.
The Frog Bikes deal gives Frasers another foothold in the cycling market through a well-known children’s specialist brand, adding to its existing ownership of Evans Cycles.
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