Bid from Frasers Group to take full ownership of Mulberry
Retail group Frasers has confirmed that it has submitted a non-binding offer to acquire the whole of leathergoods brand Mulberry.
Frasers Group first invested in Mulberry in 2020 and currently owns 37% of the company’s equity. It said it had submitted its offer to buy the remaining 63% of Mulberry after learning of a proposed new investment in the leathergoods brand by a Singapore-based investment group, Challice.
Challice is already a joint-venture partner of Mulberry’s. The two companies set up their joint venture in 2017 to boost Mulberry’s business in Asia.
The offer from Frasers Group values Mulberry at £83 million and would involve a payment of around £52.4 million to acquire the whole of the company.
“We have long been supportive of the brand and commercial opportunities available to the company,” Frasers Group said. “With our retail expertise and presence and distribution capability, we believe Frasers to be the best steward for returning Mulberry to profitability.”
