What's Happening?
Fashion brand Weird Fish has been acquired by investor Auralis, a group founded by Total Capital Partners (TCP). The acquisition, valued at £35 million, follows TCP's previous stake increase to 69% in 2017,
making it the largest shareholder. Under Auralis, TCP has further increased its share to 80%, gaining complete control of the company. Weird Fish CEO David Butler will lead Auralis, expressing optimism about improving profitability and accelerating growth plans. The acquisition comes after Weird Fish reported record full-year results, with EBITDA rising 110% to £5.38 million and sales increasing by 11.4% to £42.6 million.
Why It's Important?
The acquisition of Weird Fish by Auralis signifies a strategic move to enhance the brand's market position and financial performance. With increased investment and control, Auralis aims to leverage Weird Fish's recent success in expanding its physical presence and third-party partnerships. This development could lead to increased competition in the fashion industry, potentially affecting other retailers. The focus on growth acceleration may also result in job creation and economic benefits within the sector, highlighting the importance of strategic investments in driving business success.
