Frasers Group makes cash offer for Hugo Boss

Frasers Group has been a major shareholder of Hugo Boss for some time and has always stressed it’s a strategic investment. But late on Wednesday it revealed a cash offer for the firm.

It issued a stock exchange release that announced “a voluntary public takeover offer to acquire all outstanding shares in Hugo Boss AG for €38 per share”, representing a total cash consideration of approximately €1.978 billion (£1.727 billion). The shares were trading for €36.46 on Wednesday.

It said this offer aims to increase Frasers’ investment in Hugo Boss, “a key brand partner, with the expectation of creating shareholder value”.

Of course, any transaction is subject to merger control clearances but the company said it would be “anticipated to complete in the second half of 2026”. 

And it added that pro forma financial information indicates that if the offer had completed on October 26 2025, combined EBITDA would have been €971.3 million (£848.1 million), and Frasers would have recognised almost €1.558 billion in net assets and over €1.117 billion in goodwill. 

Frasers also said that it has secured an acquisition facility agreement to finance the offer.

This all comes just a day after Frasers revised its stance towards the leadership at the firm. It said it will now support Stephan Sturm as chair of the label’s Supervisory Board and no longer intends to influence the composition of the board to remove Sturm or appoint a new chair.