The UK retailer offers A$316m in cash to acquire the 77.1% of Accent it does not already own, valuing the Australian footwear chain.
Frasers Group has launched a $222m takeover bid for the remaining shares of Australian retailer Accent Group. The offer, equivalent to A$316m, targets the 77.1% of Accent not already owned by Frasers, which holds a 22.9% stake. The bid is unconditional and will run from 30 June to 30 July 2026 on the ASX.
Accent Group operates over 850 stores across Australia and New Zealand, managing 34 brands and 30 websites. Frasers, owner of Sports Direct, appointed Barrenjoey Markets as its broker for the offer, which will see shares acquired at the bid price during normal trading hours.
Shareholders accepting the offer will receive cash payments two trading days after selling their shares. The transaction follows Frasers’ filing of a Bidder’s Statement with Australian regulators.