Frasers Group PLC (LSE:FRAS), the retail and property conglomerate behind Sports Direct and Flannels, has acquired York Designer Outlet and East Midlands Designer Outlet, giving the company ownership of more than one-fifth of the UK outlet market.
The two sites attract a combined annual footfall of almost 7.8 million visitors.
York Designer Outlet spans 250,000 square feet just outside York city centre, houses 120 brands and draws 4.3 million visitors a year.
East Midlands Designer Outlet covers 170,000 square feet near the M1 motorway, offers more than 65 designer brands and attracts 3.5 million visitors annually.
The acquisitions extend Frasers Group's presence in the outlet sector as part of its Elevation Strategy, which targets a premium repositioning of the group's retail and property portfolio.
Chief executive Michael Murray said the group now owns over one-fifth of the UK outlet market and has a clear ambition to grow its share further.
The deals position Frasers simultaneously as landlord and retailer across the acquired sites, supporting global brands' outlet strategies while expanding the group's property income base.
No financial terms were disclosed.