THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sports Direct to buy remaining shares in Heatons chain

Sports Direct is to buy the remaining shares it does not already own in Irish department store chain, Heatons.

GENERAL MERCHANDISE

Sports Direct to buy remaining shares in Heatons chain

The sportswear giant has entered into a sale and purchase agreement with Sandra Minor to buy its shares in Warrnambool, the holding company of Heatons.

It has also entered into a conditional put and call option agreement with Mark Heaton, Hugh Heaton, John O’Neill, Warrnambool and Katipo Limited in relation to the remaining shares in Warrnambool which are not already owned by Sports Direct.

Heatons has 44 stores in the Republic of Ireland and ten stores in Northern Ireland. Warrambool also owns and operates five standalone Sports Direct stores in Northern Ireland.

The total cash consideration payable under the purchase agreement and the conditional option agreement is €47.5 million, which will be funded from the Sports Direct’s operating cashflow and existing bank facilities.

Sports Direct chief executive Dave Forsey said: "We look forward to accelerating investment into the existing store portfolio and strengthening the Heatons and Sports Direct brands across Ireland".

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing