CorpAcq acquires majority stake in Cotton Traders

London - The owner of Sale Sharks rugby team has acquired a majority stake in apparel retailer Cotton Traders.

Investment fund CorpAcq has signed an agreement with the founders of the Altrincham-based retailer, former England rugby union trams captains Steve Smith and Fran Cotton, for a significant stake in the business. Terms of the deal were not disclosed. Both Smith and Cotton are set to remain on the board following the acquisition. Founded in 1987, Cotton Traders has expanded over the years to count 120 stores across the UK.

The apparel retailer has been busy expanding its international presence and aims to use its investment from CorpAcp to achieve its goal of becoming “the best multichannel retailer for the grown-up generation.” This includes expanding into new international markets, launching new product ranges across apparel and homeware and further developing its multichannel offering.

Cotton Traders has managed to weather the current difficult trading conditions plaguing the UK high street successfully, reporting a 5.5 percent increase in sales to 86.7 million pounds for 2017. The high street retailer, which employs 950 workers, sold a stake to Next in 1997 before opening its first standalone store in 1998. Founders Smith and Cotton went on to buy the stake back in 2015.