Asos acquires Arcadia labels for 265 million pounds

British online retailer Asos has announced the acquisition of Topshop, Topman, Miss Selfridge and HIIT brands for 265 million pounds. The company said that the transaction is fully cash funded from existing cash reserves. Additionally, Asos will purchase 30 million pounds of stock upfront to support initial trading before these brands are migrated into the normal working capital cycle.