BHOOY - Boohoo buys intellectual property assets of Debenhams Retail for £55M in cash

Boohoo (BHOOY) has acquired all of the intellectual property assets (incl. customer data and related business information and selected contracts) of Debenhams Retail Limited from its joint administrators for £55M plus VAT. Transaction does not include Debenhams' retail stores, stock, or any financial services.Debenhams is a leading UK fashion and beauty retailer with high brand awareness and an established online platform with ~300M UK website visits per annum. This makes it a top 10 retail website in the UK by traffic.Debenhams is expected to relaunch on the Group's platform in Q1'22.Boohoo will finance the transaction through the existing cash balance, which stood at £386.9M on Dec. 31, 2020.The deal is not expected to contribute to Boohoo's revenues for the current financial year (FY 2021) and is expected to incur modest start-up losses.Boohoo will provide a further update on its Full Year results in early May 2021.Press Release

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Boohoo buys intellectual property assets of Debenhams Retail for £55M in cash