JD Sports has sold 15 retail brands to Mike Ashley's Frasers Group for almost £50m.
The owner of House of Fraser and Sports Direct has snapped up JD Sports' interests in Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop and Topgrade Sportswear (including Get The Label).
The deal has been agreed for up to £47.5m and is to be paid by Frasers Group's existing cash resources.