Details of the deal boohoo has acquired all of the e-commerce and digital assets/intellectual property rights of the Dorothy Perkins, Wallis & Burton brands from administration for £25.2m in cash. These three brands had over 2m active customers in 2020 and will help to strengthen boohoo’s menswear offering. boohoo now has 15 brands. boohoo had net cash of £387m on 31st December before the £55m acquisition of Debenhams. Continuity of service will be provided to customers through a Transitional Services Agreement for a period of 3 months, and management expects to incur one-off transaction and restructuring costs of £10m to £15m during this time. The ongoing businesses for the Brands generated unaudited revenues of approximately £178.8m for the period to August 2020. View Discontinuation of existing lines and business (following rationalisation) will mean revenues in the first full financial year of acquisition (for boohoo) are unlikely to be little more than £25m – implying that boohoo will have paid c. 1x sales. If sales can return to prior levels of c. £180m in outer years, on a group EBITDA margin of 10%, then the deal will prove to be highly accretive. Further details will be provided at the finals in May.