On Oct. 13, 2023, British clothing group Next (NXT.L) announced it has agreed to buy FatFace in a deal valuing the fashion chain at £115.2 million (C$140 million), adding the FatFace brand to its fast-growing portfolio.
Next will pay FatFace's current owners, a consortium of financial institutions including Alcentra and Lloyds Banking Group, a combination of cash and Next shares.
FatFace trades online and from 180 stores in the U.K. and Ireland, as well as 28 in the United States and Canada.
BLG acted as Canadian counsel to Next with a team led by Frazer House and including Stefan Timms and Emma Ouellet-Lizotte (corporate/M&A), Adam Perzow and Samantha Lo (real estate), James Fu and Milica Bijelic (employment), Jennifer Ponton (intellectual property), Edona Vila and Ben Fuhrmann (product liability) and François Joli-Coeur (cybersecurity).