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Frasers Group has reportedly acquired Frog Bikes, a children’s bicycle manufacturer that entered administration earlier this year, according to Sky News.
The outlet understands that the retail group, founded by Mike Ashley, reached an agreement with administrators from FRP Advisory following a sale process initiated in March.
The transaction value for the Ascot-based business remains undisclosed. FRP Advisory reportedly received multiple offers for the company before concluding the deal with Frasers Group in recent days.
Frog Bikes was established in 2013 by Jerry Lawson and Shelley Lawson. The company has sold more than 500,000 bicycles and operates a 120,000 square foot production facility in Pontypool, Wales.
Sky News stated that the acquisition follows a period of decline for the cycling industry. Folding bicycle manufacturer Brompton recently reported falling profits, while Raleigh has faced significant financial losses.
Frasers Group previously acquired Evans Cycles from administration in 2018, retaining approximately 31 of its stores. The group also owns brands including Gieves and Hawkes, Jack Wills and House of Fraser.
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