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Last Updated: Friday, 8 April, 2005, 10:44 GMT 11:44 UK
Green snaps up Etam fashion chain
Arcadia owner Philip Green
Mr Green's Arcadia Group has more than 2,000 outlets across the UK
UK retail entrepreneur Philip Green is to buy fashion chain Etam, in a deal thought to be worth 10m ($18.7m).

Mr Green confirmed he would be buying the chain's 213 UK stores from French owner Etam Developpement.

He told news agency AFX that the buy was a "strategic fit" for his business, but declined to say how much he was paying for the business.

Etam UK - whose brands include Etam, Tammy and Emily May - posted a 25.9m ($48.5m) loss in 2004.

The buy follows Mr Green's failed 9.1bn bid to buy High Street name Marks & Spencer last year.

The billionaire is owner of Arcadia Group, which includes High Street store chain BhS, and the store brands Wallis, Burton and Top Shop.


SEE ALSO:
Green quashes new M&S bid rumours
22 Feb 05 |  Business
Green to pocket bumper dividend
21 Oct 04 |  Business
Green pockets 40m Bhs dividend
13 Oct 04 |  Business
Green plans 10m retail academy
23 Sep 04 |  Education
Green ready for High Street war
10 Sep 04 |  Business


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