M&A Deal Summary

NEXT Acquires Reiss

On September 1, 2023, NEXT acquired apparel/textiles company Reiss from Warburg Pincus for 128M GBP

Acquisition Highlights
  • This is NEXT’s 2nd transaction in the Apparel/Textiles sector.
  • This is NEXT’s 0th largest (disclosed) transaction.
  • This is NEXT’s 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2023-09-01
Target Reiss
Sector Apparel/Textiles
Buyer(s) NEXT
Sellers(s) Warburg Pincus
Deal Type Add-on Acquisition
Deal Value 128M GBP
Advisor(s) Raymond James - Investment Banking (Financial)
Fried Frank Harris Shriver & Jacobson (Legal)

Target

Reiss

Leicester, United Kingdom
Reiss is a global luxury apparel brand, producing and selling high-quality, classic and contemporary men’s and women’s clothing and accessories. The company currently operates from over 160 locations in 15 countries through a network of owned stores, concession partners, and franchised operations, whilst also growing strongly through its own and partner online platforms. Reiss was founded in 1971 and is based in Leicester, United Kingdom.

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Buyer(S) 1

Buyer

NEXT

Enderby, United Kingdom

Category Company
Founded 1864
Sector Apparel/Textiles
Employees32,931
Revenue 6.1B GBP (2025)
DESCRIPTION

NEXT is a retailer offering exciting, beautifully designed, excellent quality fashion and accessories for men, women, and children, together with a full range of homewares. NEXT clothes are styled by its in-house design team to offer great style, quality, and value for money with a contemporary fashion edge. NEXT was founded in 1864 and is based in Enderby, England.


DEAL STATS #
Overall 3 of 4
Sector: Apparel/Textiles M&A 2 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
Country: United Kingdom M&A 3 of 4
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Joules Group

Market Harborough , United Kingdom

Joules Group is a lifestyle brand that is renowned for its distinctive designs and prints, product range and authentic country heritage. The business offers a broad range of womenswear, menswear, children & babywear, homeware and accessories. Joules Group was founded in 1980 and is based in Market Harborough, United Kingdom.

Buy £34M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-11 Fat Face

Havant, United Kingdom

Fat Face retails premium men's, women's and children's clothing and accessories, created by its own in-house design team. Fat Face was founded in 1988 and is based in Havant, United Kingdom.

Buy £100M

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 248 of 263
Sector: Apparel/Textiles M&A 1 of 1
Type: Add-on Acquisition M&A Deals 88 of 95
Country: United Kingdom M&A 17 of 17
Year: 2023 M&A 7 of 8
Size (of disclosed) 55 of 66
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-21 Stellar Value Chain Solutions

Mumbai, India

Stellar Value Chain Solutions is a supply chain services company focused on providing integrated logistics solutions that include multi-user modern warehousing, primary and secondary distribution, e-fulfilment and cold storage. Stellar Value Chain Solutions is based in Mumbai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 PVR INOX

Gurugram, India

PVR INOX is a cinema entertainment company. PVR INOX was founded in 1995 and is based in Gurugram, India.

Sell -