Frasers Group is rapidly expanding its global footprint with a recent landmark acquisition. The company has entered into a binding agreement with Signa Retail Department Store Holding to purchase SportScheck, a prominent sports retailer in Germany. While the purchase price remains confidential, this strategic development underscores Frasers Group’s commitment to diversifying its portfolio.
The completion of this acquisition is contingent on receiving merger control clearance and is anticipated to be finalized in the first quarter of 2024.
This move signifies a pivotal step in fortifying Frasers Group’s presence in one of Europe’s largest sports markets, intensifying its rivalry with JD Sports, a fellow UK retail giant, which is aggressively expanding on the global stage.
SportScheck, an esteemed player in the industry with a history spanning 75 years, operates 34 stores in prime city locations throughout Germany, amassing an impressive annual revenue of approximately €350 million. The retailer attracts over 13 million visitors annually, making it a cornerstone of the German sports retail landscape.
Frasers Group is poised to leverage its Elevation Strategy to propel SportScheck to new heights. This strategy has consistently delivered strong results through investments in innovative store concepts, robust digital capabilities, and valuable brand partnerships.
As a subsidiary of Frasers Group, Sports Direct boasts strategic alliances with global sports powerhouses like Nike and Adidas. This strategic positioning positions Sports Direct to play a pivotal role in the international expansion plans of these sports giants.
Michael Murray, CEO of Frasers Group, expressed his enthusiasm for the acquisition, stating, «Acquiring Germany’s leading sporting goods retailer is a significant milestone in our journey to become the premier sports retailer in the EMEA region. We are delighted to have the full support of our global brand partners, Adidas and Nike. Expanding our Sports business is a primary focus area as we strive to become a global retail leader. The German market presents a substantial opportunity, and we look forward to bringing our expertise, resources, and relationships to strengthen SportScheck.»
Bjørn Gulden, CEO of Adidas, commended Michael Murray’s leadership in elevating Frasers Group and Sports Direct. He emphasized that the acquisition of SportScheck underscores the company’s unwavering commitment to the sports industry and aligns with their broader strategy of becoming a global player. Adidas and Nike express their full support for Sports Direct’s transformative journey.
