Frasers Group acquires Greaves Sports

The amount Frasers paid for Greaves is not currently known. The family-run business trades from one store on Glasgow’s Gordon Street, as well as a direct-to-consumer (DTC) website. It previously had a shop on Sauchiehall Street, Glasgow, known as Lumley’s, which the family acquired in 1960 and operated until 2018. It is understood that Frasers Group will continue to run the Gordon Street store under the Greaves brand. Greaves Sports confirmed the news in a statement on its website on 22 July: “We would like to provide an update to the recent news circulating about Greaves Sports, and to confirm that Greaves Sports IP has been acquired by the Frasers Group. “We can reassure our customers that our Gordon Street store and online store will remain under the Greaves Sports brand you know, with the same levels of service and expertise we’ve strived to provide for nearly 100 years. Advertisement “All gift cards and loyalty points accumulated remain valid. We continue to ensure our customers, new and old, are unaffected by these developments. Whether you’re browsing our huge range of products and sport-specialist services online, or visiting our friendly staff at our Glasgow store, the Greaves brand of friendly, expert advice will continue.” Documents on Companies House show that Greaves changed its name to Clydesdale Sports Retail Limited in June. Greaves Sports was founded in Glasgow in 1930 as the Clydesdale Rubber Company, before being rebranded in 1967. The business is run by Sandy Greaves and his sister Anne Leslie, who are the fifth generation of the family to lead the business, which was founded by William Greaves. Frasers is on an acquisition drive. Having launched a takeover bid for Hugo Boss in June, it exceeded its 30% shareholding earlier this week, which will result in a mandatory offer for all shares in the premium fashion brand under German takeover law. Advertisement It also extended its offer period yesterday (23 July) for Australian footwear business Accent Group until 30 September, extended from 30 July. Drapers has contacted Frasers Group for comment. Have your say or a new account to join the discussion.