Ted Baker : Acquisition

10 September 2018

Ted Baker Plc

('Ted Baker' or the 'Company')

Acquisition of No Ordinary Shoes Limited and No Ordinary Shoes USA LLC

Ted Baker, the global lifestyle brand, announces that on 7 September 2018 it entered into an agreement with Pentland Group Plc ('Pentland'), the Company's footwear licensee since 2001, to acquire the issued share capital of No Ordinary Shoes Limited and No Ordinary Shoes USA LLC (together, the 'Target Companies') for an aggregate consideration of £13 million, plus an adjustment for net assets of the Target Companies as at completion date, anticipated to be between £4-8m, payable in cash on completion (the 'Acquisition'). Pentland currently holds the exclusive global licence from Ted Baker to manufacture and distribute footwear under the Ted Baker brand. Accordingly, following completion of this Acquisition, Ted Baker will bring its footwear licence back in-house.

The aggregated sales of the Target Companies for the year ended 31 December 2017 totalled £39.8 million. The Acquisition will be financed by the Company's existing bank facilities and is expected to enhance the earnings of Ted Baker in FY2019/20 and beyond.

Following completion of the Acquisition on 31 December 2018the Target Companies will be integrated into Ted Baker's current operations.

Commenting, Ray Kelvin CBE, Founder and Chief Executive of Ted Baker, said:

'I would like to thank Pentland for their hard work and Tedicationover the last 17 years during which they have been close friends of Ted Baker and trusted custodians of the brand.

This is an exciting opportunity for Ted Baker to drive further growth in our footwear business by leveraging our global footprint and infrastructure, in line with our strategy to further develop Ted Baker as a global lifestyle brand.'

Richard Newcombe, Global President of Footwear Division at Pentland, said:

'It's been a pleasure to have partnered with the Ted Baker team for the last 17 years.

Since becoming the Ted Baker footwear licensee in 2001, we've grown the footwear category by more than 800% and increased distribution from 60 retailer partners in 8 markets, to over 200 in 28 markets. We have worked closely with the team at Ted to ensure our strategies are perfectly aligned, and that the product captures what makes Ted Baker such a special and unique brand.

We take pride in the role our team has played in the brand's continued success, and we wish everyone at Ted Baker all the very best for the future.'

Enquiries:

Ted Baker Plc		Tel: [phone]
Ray Kelvin CBE, Founder & Chief Executive
Lindsay Page, Chief Operating Officer & Group Finance Director
Charles Anderson, Company Secretary & Finance Director
Hudson Sandler (financial PR)		Tel: [phone] or [e-mail]
Alex Brennan Hattie O'Reilly Nick Moore

Notes to editors

Ted Baker Plc - 'No Ordinary Designer Label'

Ted Baker is a global lifestyle brand that operates through three main distribution channels: retail, which includes e-commerce; wholesale; and licensing, which includes territorial and product licences.

We distribute through our own and licensed retail outlets, leading department stores and selected independent stores in the UK and Europe, North America, the Middle East, Africa, Asia and Australasia.

The brand continues to go from strength to strength driven along in part by its unconventional approach to product and design. Never forgetting its roots as a shirt specialist but always with an eye on the future, Ted is continuously innovating through its collections, store environments and now with digital and social media initiatives that foster a truly omnichannel view for its growing and highly engaged global audience.

Ted Baker is a truly global lifestyle brand with 532 stores and concessions worldwide, comprised of 195 in the UK, 113 in Europe, 127 in North America, 88 in the Middle East, Africa and Asia and 9 in Australasia.

The brand offers a wide range of collections including: Menswear; Womenswear; Global; Phormal; Endurance; Accessories; Bedding; Childrenswear; Crockery; Eyewear; Footwear; Fragrance and Skinwear; Gifting and Stationery; Jewellery; Lingerie and Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories; Tiles; and Watches.

Pentland Group Plc

Pentland Group plc is a privately owned, global brand management company with wholesale and retail businesses in sports, outdoor and fashion.

It owns Speedo, Berghaus, Canterbury of New Zealand, Endura, Boxfresh, Ellesse and Mitre. It's the global licensee for Ted Baker footwear, Karen Millen footwear and Kickers in the UK and has a joint venture partnership for Lacoste footwear.

The Group is the majority shareholder of JD Sports Fashion plc, which operates 2,300 stores across 21 countries.

Headquartered in the UK, Pentland Group employs more than 41,000 people. Its brands are available in 190 countries. For more information:www.pentland.com.