Frasers Group to acquire German retailer SportScheck
Frasers Group is to acquire German sports retailer SportScheck from Signa Retail Department Store Holding.
Operating 34 stores in prime city locations across Germany, SportScheck has revenues of approximately €350 million and a customer base of over 13 million visitors per year.
In a statement, the owner of Sports Direct said the acquisition will enable it to grow its presence in one of the biggest sports markets in Europe.
Michael Murray, chief executive of Frasers Group, explained: “Acquiring the leading sporting goods retailer in Germany is a big step in our journey to becoming the number one sports retailer in EMEA – and we are delighted to do this with the full support of major global brand partners, Adidas and Nike.
“Growing and expanding our Sports business is a key focus area in becoming an international retail business. The German market represents a huge opportunity for us, and we look forward to bringing our experience, resources and relationships to strengthen the SportScheck business.”
Bjørn Gulden, chief executive of Adidas AG, added: “The acquisition of SportScheck is another big commitment to the sports industry and a natural evolution in their strategy of becoming a global player. We are committed and excited to support Sports Direct on their journey.”
The transaction is expected to complete in the first quarter of 2024.
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