Sports Direct to buy Republic

Republic was rumoured to be in the sights of several private equity buyers in mid-February, according to earlier reports.

Ernst & Young's joint administrators Hunter Kelly, John Sumpton and Alan Hudson have completed the sale of the fashion retailer and its assets to a subsidiary of Sportsdirect.com.

The sale of the business includes the Republic retail brand, its 116 stores and the Leeds-based headquarters. The deal will be safeguarding more than 2,100 jobs across the UK.

Republic was previously owned by private equity firm TPG, which had more than £35bn under management. TPG reprortedly acquired the business in June 2010 for £300m from Change Capital Partners. Their portfolio company went into administration on 13 February 2013.

The brand began as a men's denim retailer in 1986 under the Best Jeans brand in Leeds. It currently offers casual fashion items to young adults under multiple brands, including Jack Jones and SoulCal.

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• UK / Ireland
• TPG Capital