Frasers Group is looking to expand its international business through the acquisition of Australian private sales site MySale. The sports and premium brands retailer has made a cash offer of 2 pence per share. Frasers Group is already the largest shareholder in MySale with a holding of 28.7%. The remainder is valued at £13.6m.
The acquisition of MySale will enable Frasers Group to increase its presence in Australia as well as the surrounding regions in a way that would be “faster than via organic growth,” the company says. MySale’s ecommerce sites in Australia, New Zealand and Singapore offer flash sales of branded fashion, beauty and homewares at discounted prices.
The acquisition also offers opportunities to use MySale’s established clearance channel to clear end of line Frasers Group products. European businesses within the Group would also benefit from the counter seasonality between the two regions.
In July, Frasers Group bought online fashion retailer I Saw It First, with plans to integrate it into Missguided, another of its acquisitions. Further acquisitions, joint ventures and organic openings are expected to follow.