UK fashion pureplayer Boohoo has agreed to acquire all of the ecommerce and digital assets and associated IP rights, including customer data, related business information and inventory of the Burton, Dorothy Perkins and Wallis brands from Arcadia Group. Boohoo will pay GBP25.2 million in cash, funded from existing cash resources, on completion. The company says the acquisition is a significant opportunity to grow market share across a broader demographic, with Burton strengthening its offer in menswear and all brands expanding its portfolio within the Debenhams ecommerce offer ahead of its relaunch.

Source: Boohoo.com