According to a regulatory announcement, Frasers Group acquired 198,666 Hugo Boss shares for €7.63m ($8.55m) on 23 October. This latest purchase takes its direct holding to 34,468,065 shares.
Frasers also has interests in up to 15,050,100 Hugo Boss shares covered by sold put options, representing a potential additional interest of 21.87% of Hugo Boss’ share capital.
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The transaction, financed from Frasers’ existing cash resources, qualifies as a significant transaction under the UK Listing Rules but does not require shareholder approval.
Frasers said Hugo Boss had gross assets of €3.532bn and net assets of €1.634bn at 30 June 2026. For the six months to that date, Hugo Boss reported revenue of €1.810bn and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of €272m.
On a pro forma basis, Frasers estimated that the combined businesses generated EBITDA of €1.87bn for the 52 weeks ended 26 April 2026. The company also stated that following the transaction, it would recognise €981.2m in goodwill.
The figure combines Frasers’ reported results with an estimate of Hugo Boss’ performance.
The latest development follows failed takeover attempts by Frasers earlier this year, which saw its offer rejected by the Hugo Boss board as “inadequate” and not reflecting the brand’s potential.
Nonetheless, Frasers had stated an intent to “further increase” its shareholding beyond the 47.89% previously held. It intended to move above 50% of the company’s share capital and voting rights.
The acquisition also follows a period of management change at Hugo Boss, notably the departure of CFO and COO Yves Müller earlier this month for personal reasons.
Frasers said the board considered the latest share purchase to be in the best interests of the group and its shareholders.
The company’s pro forma figures indicate that €981.2m of goodwill, including recognised intangible assets, would arise on consolidation.
