Next has acquired FatFace in a deal valued at £115.2m which is expected to close later this month. This will see Next holding 97 per cent of the equity in the business with FatFace management holding the balance. Will Crumbie will continue as CEO with all FatFace operations continuing to be run out of Havant by the existing FatFace team.
It is expected that the FatFace online operation will migrate to Next’s Total Platform within a year.
Crumbie, who issued a statement on LinkedIn said: “I want to thank our FatFace colleagues, who have all done such a terrific job of leading the business through the pandemic; building on the brand’s strong heritage, quality product, and fantastic customer service to emerge even stronger in recent years. I am looking forward to working with the Next management team in this next phase of growth for the business.”
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