Frasers Group, the UK-based company that signed a license deal with Accent Group to roll out its Sports Direct retail business in Australia and New Zealand, continues its creep-up on Accent’s stock this year.
After bumping up its shareholding in Accent to 21.32 per cent two weeks ago, the company has added an extra percentage point to its voting power, with the new bump up valued at just over $5.5 million.
Frasers now holds a total of 134,207,552 shares in Accent, with the stake roughly valued at $123.4 million based on the Australian group’s current share price of $0.92 per share.
Prior to the recent bump ups, Frasers held a 19.90 per cent share in Accent since May. Prior to May, the group had a 14.57 per cent stake, which was initially bought off from retail billionaire Brett Blundy.
That initial purchase was a key step in securing the Sports Direct rollout contract for AU/NZ.
Accent Group has just begun its retail rollout of Sports Direct in Australia. This includes a local website and its first store opening in Westfield Fountain Gate. More store openings are expected in 2026.
When the deal was initially struck in April last year, Accent Group and Frasers Group confirmed there would be 50 store openings over the next six years, which could reach 100 in the long-term.
Founded in the UK in 1982, Sports Direct operates more than 700 stores globally across Europe and Asia.