Frasers Group has agreed to sell its Sports Direct Malaysia business to MAP Active for around $150m (£113m), as it pushes ahead with a partner-led expansion strategy across Southeast Asia.
The retail giant will sell its entire interest in Sports Direct Malaysia to PT MAP Aktif Adiperkasa Tbk, known as MAP Active, which is already one of Frasers’ key strategic partners in the region.
Under the deal, Frasers will enter into a long-term agreement with MAP Active to grow and develop Sports Direct in Malaysia, while retaining an ongoing income stream from the business.
The transaction remains subject to final completion adjustments.
The move builds on Frasers’ existing partnership with MAP Active across Indonesia, the Philippines, Thailand, Vietnam and Cambodia, bringing Malaysia into the same regional operating structure.
Frasers said the partnership supports its strategy to simplify operations and improve efficiency across Southeast Asia, while using MAP Active’s local infrastructure and retail network to accelerate Sports Direct’s growth.
The companies have a long-term ambition to open more than 350 stores across the region, targeting a consumer base of more than 600 million people.
Frasers Group chief executive Michael Murray said: “MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct’s growth across Southeast Asia.
“Together, we are creating a strong platform to deliver our ambitious growth plans. I look forward to continuing to work with the MAP Active team to unlock further value.”
MAP Active group chief executive V.P. Sharma said the business would use its local expertise and regional retail network to expand Sports Direct’s offer to more customers across the region.
The sale comes during a busy period of dealmaking for Frasers, which has also been pursuing international growth through its bid for Australian retailer Accent Group and its long-running interest in Hugo Boss.
For Frasers, the Malaysia deal shifts Sports Direct’s presence in the market away from direct ownership and towards a capital-light partnership model, while still allowing the group to benefit from future growth.
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