HEARTLAND completed the acquisition of a 75% stake in Topshop and Topman brands from ASOS for £135m.

HEARTLAND, a private equity firm, completed the acquisition of a 75% stake in clothing brands Topshop and Topman from ASOS, an online fashion retailer, for £135m. "We're pleased to be making this announcement today which is an important step in ASOS' continued transformation. The joint venture and the launch of the refinancing will accelerate our strategy to both offer customers the best and most relevant product and to turn ASOS into a company that delivers sustainable, profitable growth," José Antonio Ramos Calamonte, ASOS CEO.