Frasers Group plc (UK) → Accent Group Limited, 14.65% stake (from BBRC International Pte Ltd / Brett Blundy)
completedFrasers Group bought Brett Blundy's 14.65% stake in ASX-listed footwear retailer Accent Group (82,477,463 shares) for A$164,954,926 via an on-market agreement, completed 27 August 2024. This is a separate, earlier stake-building move distinct from Frasers' later full takeover bid for Accent Group launched in 2026 (see frasers-accent-2026).
Frasers, which has been building stakes in footwear and sporting goods retailers globally, wanted a strategic foothold in Accent's Australian/NZ store network (The Athlete's Foot, Platypus, Hype DC) — this stake purchase later escalated into a full takeover attempt.
Brett Blundy's BBRC International exited its Accent Group holding via the on-market sale.
Not specifically detailed beyond the transaction itself.
As part of the deal, Accent Group offered Frasers the opportunity to nominate a director to its board — an early signal of the closer relationship that led to Frasers' 2026 takeover bid.
Deal mechanics
On-market purchase of 82,477,463 ordinary shares (14.65% of issued capital)