Cotton Traders in line for new owner

Steve Smith and Fran Cotton are understood to be negotiating the sale of their business, Cotton Traders which has over 100 stores - Geoff Pugh

The founders of Cotton Traders are understood to be in talks over a deal to offload the clothing chain to the owners of Sale Sharks rugby club.

Former England rugby players Fran Cotton and Steve Smith have been negotiating with investment fund CorpAcq over a potential sale of the 31-year-old ­business, sources have said.

Cotton Traders, which has around 120 UK stores, booked turnover and profits of £82.2m and £8.2m last year, according to accounts on Companies House. CorpAcq, which owns more than 14 firms spanning plumbing and heating to fork lift trucks, was launched by ­Simon Orange in 2006.

Betfred co-founder Fred Done is a non-executive director of the so-called buy and build acquisition group.

A Cotton Traders spokesman said: “There is a strong, positive relationship between the owners of Cotton Traders and CorpAcq, particularly given the links with Sale Sharks rugby club.

“We confirm various ­discussions have and ­continue to take place ­between both businesses; however, the nature of these discussions remains ­unconfirmed at this time.”