Frasers Group is continuing its diversification push by entering the leisure market for the first time, investing in UK-wide leisure operator We Do Play.
The news comes just two weeks after the company bought and then revamped online technology retailer eBuyer days after it entered administration, in a move not dissimilar to its £52m takeover of GAME in 2019.
It also owns significant stakes in retailers such as Hugo Boss, XXL, Asos and Currys.
We Do Play operates brands including Flip Out, Activate and Putt Putt Social, with the company planning to open more than 40 Activate sites nationwide following successful launches in London and Newcastle.
These deals also follow news in early July, when Frasers announced it had replaced its £1.65bn financing facilities with a new £3bn term loan and revolving credit facility from its banks.
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“Today’s announcement marks a significant milestone in our strategy to diversify and create more dynamic consumer and leisure experiences,” said James France, Frasers Group chief acquisition officer.
“We Do Play’s innovative brands align perfectly with our vision for a modern, experience-led consumer ecosystem.
“Together, we look forward to bringing these brands to more communities nationwide.”
Rich Beese, We Do Play CEO, added: “We’re incredibly proud to partner with Frasers Group as we enter this next phase.
“Our mission has always been to create memorable, energy-filled experiences that bring people together – and with Frasers’ backing, we’re now able to scale that vision faster and further.”
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