Frasers Group takes majority stake in Italy’s Maxi Sport
Sports Direct owner Frasers Group is to acquire a majority stake in Maxi Sport SpA.
The premium multi-sport retailer operates 18 stores across Italy.
Subscribe to TRBThe move forms part of Frasers Group’s strategy to launch the Sports Direct brand in the country.
Michael Murray, chief executive of Frasers Group, said: “Maxi Sport represents the pinnacle of premium sports retail in Italy, and this partnership is the next phase of that journey.
“I look forward to bringing our international experience and strong brand relationships together with their regional expertise to grow Maxi Sport’s unique offering and also launch Sports Direct in Italy in the future.”
In December, Frasers Group reported that it delivered a “solid” first half in the six months to 26 October, with pre-tax profit climbing to £412.1 million from £209 million a year earlier. Revenue rose by 5% to £2.58 billion driven by international revenue growth of 42.8%.
