Danish fashion company Bestseller has acquired the online store M & M Direct for a fee of some 140 million pounds (175 million euro) from TA Associates.
Bestseller, which owns chains like Vero Moda and Only, has bought TA Associates' web shop while it was planning for an IPO. Its owner had nevertheless decided to sell the entire company to Bestseller and the deal should be finalized within 8 weeks.
M & M Direct sells multiple brands' clothes in over 20 countries (among which Great Britain, Germany, France, the Netherlands and Poland). It is unclear what Bestseller intends to do with M & M Direct, which was part of TA Associates since 2007.
Bestseller has launched several new brands in the past fiscal year, like Little Pieces (for girls up to 12 years old), Noisy May (jeans brand) and Junarose (a large size brand). It will also launch a men's brand (Only & Sons) and a boys' brand (LP Boys) to attract a larger audience.