UK menswear retailer Moss Bros is poised to be acquired by Brigadier Acquisition Company, controlled by Michael Shina, the owner of Crew Clothing. This acquisition will involve the purchase of all the shares of Moss Bros, resulting in its probable delisting from the London Stock Exchange. The agreed cash offer values Moss Bros at £22.6m, with each share priced at 22p. While the offer price represents a premium compared to recent closing prices, it is lower than the value less than a month ago. The board of directors are recommending that shareholders approve the deal for it to proceed. The acquisition is anticipated to be completed in the second quarter of 2020.

Michael Shina expressed enthusiasm about the acquisition, commending Moss Bros’ rich heritage, extensive history, and competent management team. He views this acquisition as an opportunity to enhance the retailer’s financial performance and safeguard its brand presence on the UK high street. Chairman Colin Porter echoed his support for the deal, emphasizing the risks associated with executing the company’s standalone strategy in the current retail landscape. He believes that the acquisition provides fair value for Moss Bros and takes these risks into consideration.

For Moss Bros, this move marks a significant transition as it reverts to private ownership after being publicly traded. The acquisition by the owner of Crew Clothing could unlock new possibilities for the brand, leveraging expertise and resources to drive performance. As the retail industry faces ongoing challenges, this shift to private ownership may offer Moss Bros greater flexibility and agility to navigate the evolving market.

The impact of this acquisition on Moss Bros’ operations, brand positioning, and future growth is yet to be seen. The focus will now shift to how the new ownership structure can support the retailer in achieving long-term success. With the support of shareholders, the deal is expected to be finalized in the coming months, ushering in a new chapter in Moss Bros’ history.

Useful links:
Moss Bros Official Website
Crew Clothing Official Website