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Mike Ashley’s Frasers Group has announced that it has upped its stake in Curry’s to 11.1%.
The news comes after Frasers increased its stake in the business to 10.4% last week and Curry’s chief executive revealed that the group was in talks about a possible partnership with Frasers.
In an announcement to shareholders Frasers said driving growth through strategic investments is a “core part” of its’ DNA.
It also stated that under CEO Michael Murray’s leadership, it continues to build on its “long track record” of establishing supportive shareholder positions in attractive retail companies.
Frasers said: “Our investment in Currys provides us with a valuable opportunity to build on our foothold in the electricals industry as well as deepening the existing relationship between Currys and Studio, with the potential for further collaboration between the two. Through this investment, we also believe Currys will benefit from Frasers’ deep retail know-how and our sector-leading ecosystem.”
