JSE-listed clothing, homeware and sport retail giant Mr Price has announced another surprise acquisition. This time it’s a R3.3 billion majority stake in unlisted Johannesburg-based clothing retail group Studio 88. Mr Price confirmed the deal in a Sens statement on Wednesday morning, saying the acquisition represents “a controlling shareholding in the Studio 88 Group”.
Mr Price in surprise deal to buy Yuppiechef “Mr Price is pleased to announce that on April 12, 2022 it entered into transaction agreements to acquire 70% of Blue Falcon Trading 188 Limited, which owns the Studio 88 group of businesses, from RMB Ventures Six Limited and current management of the Studio 88 Group,” it says in the Sens. “The R3.3 billion purchase consideration in relation to the sale shares [and] represents approximately 6% of Mr Price’s market capitalisation at 11 April 2022.
yuppiechef MRPfashion Can't wait for the opinions of expects. We were this excited when edcon raked everything on their path. It ended in tears