(Sharecast News) – Mike Ashley’s Frasers Group said on Tuesday that it has agreed to buy German sports retailer SportScheck from Signa Retail Department Store Holding for an undisclosed sum.
The company – which owns House of Fraser, Sports Direct and Flannels, among others – said the deal will enable it to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the sports segment.
SportScheck has over 75 years of expertise in sports retail, with 34 stores in prime city locations across Germany, revenue of around €350m, and a loyal customer base of over 13m visitors per year.
Chief executive officer Michael Murray said: “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.”
