N Brown Group is poised for a significant transformation as it faces a £191 million takeover bid.
- The takeover bid is led by Joshua Alliance, a non-executive director, through Falcon 24 Topco Ltd.
- The Alliance family currently holds a strong stake, owning approximately 60% of the company’s shares.
- The acquisition aims to accelerate N Brown’s growth by providing additional resources and capital.
- The acquisition is anticipated to be completed by the first quarter of next year, with existing leadership continuing.
N Brown Group, an established ecommerce entity based in Manchester, is preparing for a notable shift as it encounters a £191 million takeover bid. This proposal is spearheaded by Joshua Alliance, a non-executive director, who utilises Falcon 24 Topco Ltd to effectuate the acquisition. The company’s board has officially endorsed this offer, recommending it as a strategic step forward.
Joshua Alliance, the orchestrator of this bid, is no stranger to N Brown, having been part of its board since 2020. His family has a longstanding history with the company, maintaining significant participation in its strategic direction over the years. Currently, the Alliance family collectively controls around 60% of N Brown’s issued share capital, underscoring their influential position.
The proposed acquisition is designed to enhance N Brown’s growth trajectory by furnishing it with necessary capital, expertise, and resources, thereby enabling the company to thrive in a competitive market. As the company adapts to its evolving business cycle, this strategic move is anticipated to foster improved growth prospects away from public market constraints.
Under the new ownership structure, N Brown is expected to focus on its robust portfolio of fashion brands alongside a developing financial services platform. The shift aims to leverage the company’s long-standing heritage in the UK clothing and footwear market, ensuring it remains competitive and efficient in the dynamic retail landscape.
The current executive team at N Brown will remain intact following the acquisition, ensuring continuity of leadership and strategy implementation. Meanwhile, the company has also announced efforts to optimise its operational costs, which include potential redundancies affecting up to 105 roles.
This transition comes at a time when the company is intent on underpinning its commitment to sustainable growth, as voiced by Steve Johnson, Interim Executive Chair and CEO. Johnson highlights the potential of the acquisition to expedite strategic goals, benefiting all stakeholders involved.
The acquisition marks a pivotal chapter for N Brown, heralding new opportunities and enhanced growth potential under private ownership.
