Frasers Group acquires Dave Whelan Sports
Sports Direct owner Frasers Group has acquired some of the assets of Dave Whelan Sports from its administrators for an initial sum of £37 million.
The deal includes the company’s gym and fitness business as well as some stock, but excludes the Dave Whelan business names and intellectual property. An additional sum of £6.9 million may be payable depending on the number of leasehold interests eventually acquired.
DW made a loss of £20 million in the year to 31 March 2019.
Frasers Group said the acquisition will compliment its existing gym and fitness club portfolio and is consistent with its ongoing strategy.
It added: “Frasers Group looks forward to elevating the gym and fitness assets acquired pursuant to the Transaction under the group’s existing iconic Everlast brand, and is also pleased to have saved a number of jobs.”
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