Regiment Acquisition Company completed the acquisition of Moss Bros Group for £23m.

Regiment Acquisition Company, which is majority owned and controlled by Menoshi Shina, the owner of Crew Clothing, completed the acquisition of Moss Bros Group, which is engaged in retailing and hiring formal wear for men, for £23m. "In September, the board of Moss Bros set out its strategy to drive Moss Bros' long-term performance and we have seen some early positive results which support the Board's confidence in Moss Bros as a standalone entity. However, the Board is also aware of the risks attached to executing this strategy in the current retail operating environment and as a publicly-listed company. Having considered a range of strategic options, the Board believes that the terms of the Acquisition, which offers a premium cash exit to Moss Bros' Shareholders, fairly reflect the value of Moss Bros and its prospects, taking account of these risks," Colin Porter, Moss Bros Chairman.