Frasers moves for German sports retail group
UK-based retail group Frasers, owner of the Sports Direct chain, has entered into a binding agreement to acquire German sports retailer SportScheck from current owner, Signa Retail.
SportScheck runs 34 stores in major cities across Germany and revenues of around €350 million per year.
Frasers Group chief executive, Michael Murray, called SportScheck “the leading sporting goods retailer in Germany”. He this was a big step on Frasers’ journey towards becoming the number-one sports retailer in Europe.
Mr Murray added: “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.”
The group expects the transaction to conclude in the first quarter of 2024.
