Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Bestseller buys M and M Direct

Danish brand house Bestseller has bought British off-price etailer M and M Direct for £140m, cancelling the online business’ plans to float later this month.

M and M Direct was expected to list on the Alternative Investment Market (Aim) this month, with owner TA Associates looking to offload at least half of the company.

Bestseller’s communication director Mogens Werge said the company would “continue to develop” M and M Direct as a market leader.

He added: “We trust that the collaboration will become beneficial for both our companies in the long run, and we look forward to be working with and learning from M and M on areas like mobile sales.”

The two businesses will remain separate, but Bestseller said it “hopes to benefit from the knowledge in M and M Direct”.

Sales at M and M Direct grew 10% to £109.5m for the year to February 24 2013, with EBITDA up 19% to £8.7m.

The move further boosts Bestseller’s online presence following its owner Anders Holch Povlsen buying a 10% share in German etailer Zalando last August.

Bestseller also owns a 28% share in Asos.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.