Ex-NUFC boss Mike Ashley's Frasers Group snaps up £3m stake in rival retailer

Henry Saker-Clark PA Deputy Business Editor
·1-min read
A Marks Electrical van outside a store
-Credit: (Image: Reach Publishing Services Limited)


Mike Ashley's Frasers Group has made a strategic move by acquiring a £3 million stake in Marks Electrical, boosting the online white goods retailer's shares in early Tuesday trading.

In a recent stock market announcement, Marks disclosed that Frasers purchased 6.73 million shares, granting them a 6.4% interest in the Leicester-based company.

Despite this, the majority control remains with founder Mark Smithson, who holds over 70% of the business.

READ MORE: Newcastle's Grey Street named one of the most picturesque streets in UK

READ MORE: I'm A Celebrity fans say same thing about unexpected bond between two campmates

Earlier in the month, Marks Electrical reported a dip in half-year profits as consumers opted for less expensive products due to financial pressures, with adjusted earnings falling to £2 million for the six months ending September 30, compared to £2.3 million in the previous year.

This occurred even though revenue rose by 9.3% to £58.8 million for the half-year period. Frasers' investment follows a decline in Marks shares to their lowest point since the company's 2021 London floatation last week.

This is Frasers' latest venture into the electricals sector, having previously acquired approximately a 23% stake in competitor AO World.

A spokesperson for Marks Electrical welcomed the investment, stating: "The board welcomes Frasers as a shareholder in Marks Electrical."

"Their investment represents a vote of confidence and also demonstrates the significant upside potential in our business as we focus on building the UK’s leading premium electrical retailer and delivering long term value creation."

The company's shares experienced a 1.3% increase, standing at 51.15p.

Latest stories

  • Geologists Might Have Stumbled Upon the Largest Gold Mine in the World

    $83 billion has just been sitting there underground this whole time.

  • FTSE giant deals £27bn blow to London stock market

    One of the UK’s leading blue-chip companies is preparing to shift its listing from London to New York, dealing yet another blow to Britain’s beleaguered stock market.

  • Nationwide reveals all the accounts that qualify for its new £100 bonus

    Nationwide has revealed who will qualify for its new £100 bonus.

  • 3 Reliable Dividend Stocks Offering Yields Up To 9.7%

    As global markets experience mixed reactions with major indices reaching record highs and growth stocks outperforming value shares, investors are keenly observing economic indicators such as job growth and potential interest rate changes by central banks. Amidst this backdrop, dividend stocks continue to attract attention for their ability to provide steady income streams, making them a compelling choice for those seeking stability in an unpredictable market environment.

  • Up 14% in a month! Is this forgotten FTSE 250 stock about to go ballistic?

    This FTSE 250 stock is trading at a 20-year low but is finally showing signs of life as the board gets a grip on its sprawling global operations. Harvey Jones is tempted. The post Up 14% in a month! Is this forgotten FTSE 250 stock about to go ballistic? appeared first on The Motley Fool UK.

  • 2 FTSE 100 shares I plan to avoid like the plague in 2025

    Mark Hartley identifies two FTSE 100 shares he wouldn't go near in 2025, explaining why their fundamentals don't align with his strategy. The post 2 FTSE 100 shares I plan to avoid like the plague in 2025 appeared first on The Motley Fool UK.

  • I think this FTSE 250 stock may explode higher in 2025, just as it has done before

    After a disappointing five-year performance, a build-up of value may cause this FTSE 250 investment trust to outperform next year. The post I think this FTSE 250 stock may explode higher in 2025, just as it has done before appeared first on The Motley Fool UK.

  • This hot growth stock has smashed the FTSE 100 in 2024. Time for me to sell?

    After a brilliant few months for this FTSE 100 stock, could there be signs of it overheating? Paul Summers considers whether to wind down his position. The post This hot growth stock has smashed the FTSE 100 in 2024. Time for me to sell? appeared first on The Motley Fool UK.

  • Owners of older homes face new mortgage penalty

    Homeowners buying and selling older properties face a new penalty under Britain’s net zero drive.

  • 1 cheap FTSE 100 stock I’ve snapped up for 2025 and beyond

    Our writer outlines three compelling reasons why he recently decided to add this bargain-basement FTSE 100 stock to his portfolio. The post 1 cheap FTSE 100 stock I’ve snapped up for 2025 and beyond appeared first on The Motley Fool UK.

  • Mark Zuckerberg's Soaring Wealth: Billionaire Now Richer Than Warren Buffett, Mark Cuban, Peter Thiel And Ken Griffin Combined

    Meta Platforms META is a top-performing stock in 2024, hitting new all-time highs of $629.79 on Friday, and boosting the wealth of CEO and co-founder Mark Zuckerberg. What Happened: Zuckerberg currently ranks as the third-richest person in the world with $215 billion in wealth, according to Bloomberg. The 40-year-old trails only Elon Musk ($362 billion) and Jeff Bezos ($240 billion). Don't Miss: Are you rich? Here’s what Americans think you need to be considered wealthy. Can you guess how many r

  • Is the BAE Systems share price set to make a stellar comeback in 2025?

    Harvey Jones is struggling to get his head around the slump in the BAE Systems share price. But he sees a much brighter year ahead for the FTSE 100 defence stock. The post Is the BAE Systems share price set to make a stellar comeback in 2025? appeared first on The Motley Fool UK.

  • Who is Sanjay Malhotra, India's new central bank chief?

    Sanjay Malhotra, a career civil servant who has mostly kept a low profile, was picked as India's new central bank governor replacing Shaktikanta Das after a six-year stint. The Princeton educated 56-year-old Malhotra will helm the Reserve Bank of India as slowing economic growth and persistent inflation create a rift between the views of Prime Minister Narendra Modi's government and the central bank on the need for lower interest rates. Bond yields fell and the rupee weakened following Malhotra's appointment as traders ramped up bets for an interest rate cut when the central bank reviews policy in February.

  • Air India confirms order for another 100 Airbus jets

    STORY: Tata group-owned Air India has confirmed an order for 100 Airbus aircraft.It's part of a multi-billion-dollar plan to turn itself into a leading global airline.In October, Airbus announced an order for 75 A320 jets and 10 A350s by an unnamed customer.Sources said it was likely to be Air India.The Indian carrier has now confirmed that it placed an order for 90 A320-family jets and 10 A350 widebodies.The deal is thought to be worth around $6.4 billion.Since taking control of the company in 2022, Tata Group has spent billions on ordering hundreds of new jets.It's also changed the carrier's logo and is upgrading interiors for over half its fleet to take on rivals Emirates and Qatar Airways.Last month, the airline merged with Vistara, a joint venture between Singapore Airlines and the Tatas. Singapore Airlines holds a 25% stake in the merged carrier and has agreed to invest up to an additional $600 million in Air India's turnaround.

  • Sales boom puts BYD on track to overtake Ford, Honda

    STORY: BYD is set to soar up the rankings of global carmakers. Figures out Monday (Dec 9) showed the fast-growing car giant gaining market share again in China. As of November, industry data showed it held a 17% share in the world’s biggest auto market - up from 12.5% last year.BYD is also on track to beat an annual target of four million vehicles - and overtake big names like Ford and Honda. Sales have been boosted by a lineup of competitive models, many using its latest plug-in hybrid technology. If the momentum continues, BYD could sell more than six million vehicles over the coming year. That would put it on par with some of the world’s top names, including General Motors and Stellantis. Now the company is ramping up capacity to meet demand. Between August and October it added nearly 200,000 units in production capacity. It also added a similar number of new workers, taking its total payroll to almost one million people. Experts say the massive scale has helped it squeeze costs, and win a brutal price war that has crushed many rivals in the Chinese market. Last week, General Motors said it would take more than $5 billion in charges on its operations in the country amid declining sales and mounting losses.

  • This is 1 of the hottest themes in the stock market right now and it’s generating huge gains for investors

    This area of the stock market's absolutely on fire at the moment. And Edward Sheldon believes the momentum could continue in 2025. The post This is 1 of the hottest themes in the stock market right now and it’s generating huge gains for investors appeared first on The Motley Fool UK.

  • McWin Capital in Talks to Acquire UK Bakery Chain Gail’s

    (Bloomberg) -- McWin Capital Partners, the food investment firm helmed by dealmakers Henry McGovern and Steven Winegar, is in talks to buy UK bakery chain Gail’s, according to people familiar with the matter.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectDC Business Le

  • China launches anti-monopoly probe into chips giant Nvidia

    STORY: China has launched an investigation into U.S. tech giant Nvidia.Beijing said Monday (Dec 9) it was looking into suspected violations of the country's anti-monopoly law.The move is seen by some analysts as retaliation against Washington's recent chip curbs.Chinese regulators further said the U.S. chipmaker is suspected of violating commitments it made during its buyout of Israeli chip designer Mellanox Technologies.They did not elaborate on how Nvidia might have violated anti-monopoly laws.Nvidia did not immediately respond to a request for comment.The company's shares fell more than 2% in premarket trading after the announcement.Last week, the U.S. launched its third crackdown in three years on China's semiconductor industry.Washington curbed exports to 140 companies, including chip equipment makers.Nvidia has enjoyed booming demand from China. Although this has been hurt over the past year by U.S. efforts to stop China from acquiring the world's most advanced chips.Nvidia dominated China's AI chip market with more than 90 per cent share before the U.S. curbs came in.Now it also faces growing competition from domestic rivals, led by Huawei.

  • Tell Us About The Most Outrageous Medical Bill You Received Despite Having Insurance

    There's no reason why people should pay $20,000+ for giving birth.

  • Pound surges against euro as European economy struggles

    The pound has surged to its highest level against the euro in two-and-a-half years as policymakers prepare to cut interest rates to support the struggling European economy.