THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
French Connection shareholders give green light to £29m takeover

Fashion retailer French Connection’s shareholders have put their support behind a £29m takeover. Buyer Apinder Singh Ghura – who has experience in the clothing sector as well… View Article

FASHION RETAIL NEWS UK

French Connection shareholders give green light to £29m takeover

Fashion retailer French Connection’s shareholders have put their support behind a £29m takeover.

Buyer Apinder Singh Ghura – who has experience in the clothing sector as well as property and care homes – joined forces with partner Amarjit Singh Grewal, and KJR Brothers, headed by textile businessman Rafiq Patel.

The move means the retailer is now in private hands for the first time since 1983, with new owners set to take the reins on 8th November.

Ghura, who bought a 25 per cent stake in the retailer from Mike Ashley’s Frasers Group in February, said he was “delighted with the strong support” shown in a shareholder vote.

“We look forward to working with French Connection’s management to execute and implement our strategic plans to facilitate the future growth and profitability for the business,” he added.

Founder and chief executive Stephen Marks, who owns just under 42 per cent of the retailer, will receive around £12m for his stake.

Last month the company’s board declared it had accepted MIP Holding’s offer to buy French Connection at 30p per share, recommending all shareholders to accept the offer.

Subscribe For Retail News