Frasers Group has confirmed it is set to acquire SportScheck, one of the leading sports retailers in Germany from Signa Retail Department Store Holding for an undisclosed amount.
In a release, the Mike Ashley controlled group said the acquisition “will enable Frasers to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the Sports segment.”
SportScheck trades from 34 stores across Germany with revenue of approximately €350m, and a loyal customer base of over 13 million visitors per year.
Frasers confirmed that following the acquisition, SportScheck will benefit from the Group’s Elevation Strategy which has driven strong performance across the business by investing in store concepts, digital capabilities and strengthened brand relationships.
Sports Direct is a strategic partner for the global Sports brands such as Nike and Adidas and therefore has the support to assist in its international expansion strategy.
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Frasers Group chief executive 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.”
Frasers has been on an acquisition spree throughout 2023 picking up stakes in electricals giant Curry’s, its online counterpart AO World and boohoo’s rival Asos.
The business has lifted its stake in Boohoo Group on multiple occasions throughout the year, now owning 15.1% of the online fast fashion business, increasing its stake from 13.4% last year.
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