Frasers Group, owned by Mike Ashley, is set to expand into Malta and Africa following its acquisition of a ‘significant non-controlling’ stake in a retail and distribution company, Reuters reported.
The London-listed company has invested in Hudson Malta, which operates in 36 African countries. This investment will lead to the launch of Sports Direct and USC stores in Malta, with the first outlet expected to open by 2025. Additionally, Sports Direct is planning to expand its footprint across North West Africa as part of this strategic move.
Michael Murray, CEO of Frasers Group, said: ‘We are very pleased to be collaborating with Hudson. International expansion is a crucial element of our elevation strategy, and this announcement aligns with our growth ambitions and provides a gateway to further strengthen our presence in EMEA.
‘We’re looking forward to unlocking new opportunities in the region and leveraging our mutual strengths to bring the Frasers brand ecosystem to new consumers in new markets and elevate their retail experiences.’
Chris Muscat, CEO of Hudson, added: ‘We are thrilled to announce that, subject to certain conditions being met, Frasers Group has agreed to join forces with Hudson on our journey. This investment will enable us to accelerate our growth in Southern Europe and Africa, regions that are also key to Frasers Group’s expansion strategy.
‘With our extensive experience in Africa, combined with Frasers’ exceptional retail expertise, strong brand portfolio, and focus on innovation and efficiency, Hudson will be well-positioned to expand its existing business and unlock new opportunities.’
Frasers Group is a British retailer that offers consumers access to leading Sports, Premium, and Luxury brands. The company is focused on transforming the retail landscape by driving digital innovation and delivering unique in-store experiences to customers worldwide.
In recent years, Frasers Group has expanded its portfolio by acquiring stakes in several prominent brands, including Hugo Boss, ASOS, Boohoo, Currys, and AO World. This diversification strategy has solidified its position as a global powerhouse in the retail industry.