{"id":161510,"date":"2019-05-20T07:20:17","date_gmt":"2019-05-20T07:20:17","guid":{"rendered":"https:\/\/www.theindustry.fashion\/retail-merger-deals-decline-as-brexit-uncertainty-hangs-over-high-street\/"},"modified":"2021-08-12T13:56:31","modified_gmt":"2021-08-12T13:56:31","slug":"retail-merger-deals-decline-as-brexit-uncertainty-hangs-over-high-street","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/retail-merger-deals-decline-as-brexit-uncertainty-hangs-over-high-street\/","title":{"rendered":"Retail merger deals decline as Brexit uncertainty hangs over high street"},"content":{"rendered":"<p>The number of takeovers in the UK\u2019s retail sector tumbled over the past year, as<strong> Brexit uncertainty clouds the future of the high street.<\/strong><\/p>\n<p><!--more-->According to law firm RPC, the number of merger and acquisitions (M&amp;A) was <strong>down 24% in the year to 31 March,<\/strong> with a total of 27 going through.<\/p>\n<p>This<strong> compared to 37 transactions in the prior year,<\/strong> as dealmakers delayed decisions over the impending threat of Brexit.<\/p>\n<p>\u201cIt\u2019s likely that deals that may have gone through a few years ago are now being put on hold due to the perceived risk Brexit has created,\u201d said Peter Sugden, corporate partner at RPC.<\/p>\n<p>\u201cUsually after a period of uncertainty, deal volumes bounce back.\u201d<\/p>\n<p>The overall value of retail M&amp;A <strong>plummeted to \u00a3222m in the period, down from \u00a33.7bn in the year before.<\/strong><\/p>\n<p>The total was affected by the blocking of the tie-up between supermarkets Asda and Sainsbury\u2019s, which would have been worth \u00a37.3bn.<\/p>\n<p>Almost half of the deals that made it to completion involved distressed companies, as many <strong>high street players buckled under rising costs and competition from online.<\/strong><\/p>\n<p>Recent deals include Bestway\u2019s acquisition of Wine Rack and Bargain Booze from the collapsed Conviviality.<\/p>\n<p>Meanwhile firms which specialise in turnaround situations have been buying up high street casualties, with private equity firm Endless picking up American Golf and Hilco Capital taking over Homebase.<\/p>\n<p>Sugden said: \u201cThe most attractive distressed assets continue to be those which serve <strong>a strong consumer purpose and have a mature e-commerce offering<\/strong> but have been struggling under the weight of debt or poor operational management.<\/p>\n<p>\u201cDealing with issues such as these is often seen as low-hanging fruit for bidders to drive value.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":134438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[3588],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retail merger deals decline as Brexit uncertainty hangs over high street - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"The number of takeovers in the UK\u2019s retail sector tumbled over the past year, as Brexit uncertainty clouds the future of the high street. 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