British clothing group Frasers announced Wednesday a nearly two-billion-euro ($2.3 billion) offer to acquire outstanding shares in German men’s premium apparel firm Hugo Boss.
“Hugo Boss is a key brand partner for Frasers, and one of the top five brands across the Frasers group,” said the British firm, which owns the sporting goods chain Sports Direct and already holds 26 percent of the German brand.
The offer is voluntary, but Frasers noted that it held a significant number of options on Hugo Boss shares that would put its stake above 30 percent and oblige it to make a buyout offer.
Frasers said the offer would allow it to continue to invest in Hugo Boss and expressed its support for the company’s current leadership team.
At 38 euros per share in cash, the offer is worth approximately 1.98 billion euros overall.
But that proposal doesn’t offer Hugo Boss shareholders much of a premium from the 36.46 euros the company’s stock closed at on Wednesday on the Frankfurt stock exchange.
Hugo Boss shares spent much of 2023 above 60 euros per share.
Subject to regulatory approvals Frasers said it hoped the offer could be completed in the second half of this year.
Hugo Boss, which offers apparel, footwear and fragrances in the accessible-luxury segment, posted a net profit of 249 million euros in 2025.
Frasers saw its net profit slide to 292.1 million pounds (339 million euros) in its fiscal year that ended on April 30.
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