on FREY (EPA:FREY)
FREY Expands Italian Presence with €410 Million Acquisition
FREY has announced a significant expansion in its premium outlet portfolio by acquiring three prominent sites in Italy for €410 million. This move is part of a strategic partnership with Cale Street, focused on growing their premium outlets across Europe. The acquisition includes the Franciacorta, Valdichiana, and Palmanova shopping villages, previously managed by Blackstone funds.
This venture strengthens FREY's standing among Europe's top three outlet operators, enhancing its engagement with premium brands. The Italian sites boast a combined gross leasable area of over 90,000 m² and attract approximately 11 million visitors annually, generating over €360 million in sales.
The strategic growth is bolstered by acquiring Land of Fashion, which manages the newly acquired Italian assets. FREY's expansion is set to enhance consumer access to premium brands while reinforcing its sustainable retail model.
R. E.
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