{"id":116023,"date":"2026-06-11T16:25:19","date_gmt":"2026-06-11T13:25:19","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=116023"},"modified":"2026-06-11T17:40:57","modified_gmt":"2026-06-11T14:40:57","slug":"mike-ashley-offers-1-73bn-to-buy-all-of-hugo-boss","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2026\/06\/mike-ashley-offers-1-73bn-to-buy-all-of-hugo-boss\/","title":{"rendered":"Mike Ashley offers \u00a31.73bn to buy all of Hugo Boss"},"content":{"rendered":"<div>\n<div class=\"Container-styles__ContainerStyled-sc-8b855a6c-0 hKOCJO\" data-component=\"headline-block\">\n<div class=\"Grid-styles__GridStyled-sc-70d90311-0 hRsXiV\">\n<div class=\"GridItem-styles__GridItemStyled-sc-6cc20e4a-0 tlbDj\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"Container-styles__ContainerStyled-sc-8b855a6c-0 dYcznU\" data-component=\"image-block\">\n<figure class=\"Grid-styles__GridStyled-sc-70d90311-0 ieGDnl\">\n<div class=\"GridItem-styles__GridItemStyled-sc-6cc20e4a-0 gvGaxq\">\n<div class=\"Image-styles__ImageCardStyled-sc-8c99a12b-1 jJQpIc\" data-testid=\"hero-image\"><\/div>\n<\/div>\n<\/figure>\n<\/div>\n<\/div>\n<div>\n<div class=\"Container-styles__ContainerStyled-sc-8b855a6c-0 cPmzSx\" data-component=\"layout-block\">\n<div class=\"Grid-styles__GridStyled-sc-70d90311-0 hRsXiV\">\n<div class=\"GridItem-styles__GridItemStyled-sc-6cc20e4a-0 hUaOpu\">\n<div class=\"LayoutBlock-styles__LayoutBlockStyled-sc-f9c112e7-0 lfegSN\">\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\"><strong>JUNE 11 &#8211; Businessman Mike Ashley&#8217;s Frasers Group has made a takeover offer for German fashion brand Hugo Boss.<\/strong><\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">The retail group already owns just over a quarter of Hugo Boss, having steadily built up the stake since 2020, but said on Wednesday it wanted to buy the rest of it for \u20ac1.98bn (\u00a31.73bn).<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Hugo Boss said it would &#8220;thoroughly examine the offer and issue a reasoned statement&#8221;.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Frasers, formerly known as Sports Direct, owns House of Fraser, Game, Jack Wills, Evans Cycles and many other brands. It is also the largest shareholder in Boohoo but has had a frosty relationship with the firm.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Frasers has built a reputation for swooping in to buy retail brands which have fallen into administration, but its gradual increase in ownership of profit-making Hugo Boss over several years is a different approach.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Because it has grown its shareholding so much, Frasers is now close to the 30% ownership level that German law requires it to make an offer for the whole company.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">The deal would value Hugo Boss at \u20ac38 a share, higher than the \u20ac36.5 it closed at on Wednesday.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Frasers said that it expected the takeover to be completed by the end of this year, providing it passes all the legal checks.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"Container-styles__ContainerStyled-sc-8b855a6c-0 cPmzSx\" data-component=\"layout-block\">\n<div class=\"Grid-styles__GridStyled-sc-70d90311-0 hRsXiV\">\n<div class=\"GridItem-styles__GridItemStyled-sc-6cc20e4a-0 hUaOpu\">\n<div class=\"LayoutBlock-styles__LayoutBlockStyled-sc-f9c112e7-0 lfegSN\">\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Hugo Boss said the &#8220;unsolicited&#8221; offer had &#8220;not been coordinated with the company&#8221;, adding that it would &#8220;inform its shareholders and the public about further developments and next steps&#8221;.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Frasers said on Wednesday that it had &#8220;a strong track record in making strategic investments&#8221;.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">It said it was &#8220;a long-term investor&#8221; in Hugo Boss and that it &#8220;remains supportive&#8221; of its chair and chief executive.<\/p>\n<h2 class=\"Headline-styles__HeadlineStyled-sc-6b3bb442-0 knYLIy\">Boohoo for Debenhams<\/h2>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">It has not had as friendly a relationship with Debenhams, which is still formally named Boohoo.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Boohoo bought the Debenhams brand out of administration after Frasers decided against buying it.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Last year, Boohoo tried to formally rename itself as Debenhams, but Frasers used its shareholding votes to block the name change.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\"><a class=\"LinkUrl-styles__LinkUrlStyled-sc-f4e3b82f-0 eGAhOs\" href=\"https:\/\/www.bbc.co.uk\/sounds\/play\/p0nqzrzc\" target=\"_self\">Chief executive Dan Finley told the BBC earlier this week<\/a> it would &#8220;operate to all intents and purposes as Debenhams Group&#8221;.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"Container-styles__ContainerStyled-sc-8b855a6c-0 cPmzSx\" data-component=\"layout-block\">\n<div class=\"Grid-styles__GridStyled-sc-70d90311-0 hRsXiV\">\n<div class=\"GridItem-styles__GridItemStyled-sc-6cc20e4a-0 hUaOpu\">\n<div class=\"LayoutBlock-styles__LayoutBlockStyled-sc-f9c112e7-0 lfegSN\">\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">&#8220;It&#8217;s just the formal change to the name that&#8217;s listed at Companies House&#8230; required a special resolution that didn&#8217;t pass,&#8221; he said, adding that he did not know why Frasers blocked the change.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Since first investing in it in 2023, Frasers has\u00a0<a class=\"LinkUrl-styles__LinkUrlStyled-sc-f4e3b82f-0 eGAhOs\" href=\"https:\/\/frasers-cms.netlify.app\/\/assets\/\/files\/financials\/document_2.pdf\" target=\"_blank\" rel=\"noopener\">written several open letters about Boohoo<\/a>\u00a0and\u00a0<a class=\"LinkUrl-styles__LinkUrlStyled-sc-f4e3b82f-0 eGAhOs\" href=\"https:\/\/www.ft.com\/content\/070ed070-9167-40e5-a2fc-5fec655653c2?syn-25a6b1a6=1\" target=\"_blank\" rel=\"noopener\">lashed out at the firm in the press<\/a>, with a lot of the criticism aimed at Boohoo&#8217;s co-founder Mahmud Kamani.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Mike Ashley, a\u00a0<a class=\"LinkUrl-styles__LinkUrlStyled-sc-f4e3b82f-0 eGAhOs\" href=\"https:\/\/www.bbc.co.uk\/news\/business-35863847\" target=\"_self\">controversial figure in British business<\/a>\u00a0who founded Frasers when it was called Sports Direct, remains the largest shareholder of the retail group with his son-in-law as chief executive.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">He has previously called unhappy investors &#8220;cry babies&#8221;, faced criticism for the working conditions in Sports Direct factories, and vomited into a fireplace after drinking 12 pints at a business meeting in a pub.<\/p>\n<p class=\"Paragraph-styles__ParagraphStyled-sc-ffb5f5ba-0 fqhmpl\">Ashley was also the owner of Newcastle United for 14 years. During that time, he angered fans with his management decisions and his decision to temporarily rename St James&#8217; Park as Sports Direct Arena.<\/p>\n<p><strong>By BBC<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The retail group already owns just over a quarter of Hugo Boss, having steadily built up the stake since 2020, but said on Wednesday it wanted to buy the rest of it for \u20ac1.98bn (\u00a31.73bn).<\/p>\n","protected":false},"author":13285,"featured_media":116027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[28404,8711,28403,9726],"coauthors":[701],"class_list":["post-116023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-all-of-hugo-boss","tag-buy","tag-mike-ashleys-frasers","tag-offers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mike Ashley offers \u00a31.73bn to buy all of Hugo Boss - Capital Business<\/title>\n<meta name=\"description\" content=\"The retail group already owns just over a quarter of Hugo Boss, having steadily built up the stake since 2020, but said on Wednesday it wanted to buy the rest of it for \u20ac1.98bn (\u00a31.73bn). 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