As it continues its acquisition binge, Frasers Group has acquired a strategic investment in Australian retail and distribution company Accent Group.

Having acquired a 14.65 per cent share in the business, the owner of Sports Direct claimed that the acquisition will enable it to expand into Australia and New Zealand, which it saw as “a key market in the group’s ambition to become a leading global sports retailer.”

Accent stated that as part of the collaboration, it plans to provide the Mike Ashley-controlled company the chance to suggest a director for the board.

The Australian firm generated sales of £ 821 million (AUS $ 1.6 billion) from about 900 stores and internet in its most recent fiscal year. It oversees the distribution of 34 brands, such as Hoka, Skechers, Dr Martens, UGG and Vans.

Frasers Group chief executive Michael Murray described the investment is “an exciting step in the expansion of our international footprint, which is a key growth driver for the group”.

“Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand,” he said. “They have a strong platform across stores, digital, and distribution, offering a lot of potential for Frasers concepts and brands.

Accent Group CEO Daniel Agostinelli added, “We have been in discussions with Frasers Group for some time about a strategic relationship and have been impressed by its management team and believe that there is a strong cultural alignment between both organisations.”