Frasers Group buys German sports retailer

Frasers Group has announced an agreement to buy German sports retailer SportScheck.

The company, which owns a number of brands including House of Fraser and Sports Direct, said the move would enable it to grow its presence in Germany.

SportScheck currently has 34 stores in city locations across the country, with revenue of around €350 million.

Frasers Group said that the sportswear brand will benefit from its "elevation strategy", which it claims has driven strong performance across the business by investing in store concepts, digital capabilities and strengthened brand relationships.

The retailer said that as Sports Direct is currently a strategic partner for Nike and Adidas, it has the support to "assist in its international expansion strategy".

"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,” said Michael Murray, chief executive, Frasers Group. “Growing and expanding our Sports business is a key focus area in becoming an international retail business."

Murray added that the German market represents a "huge opportunity" for the business.

"Michael's elevation of Frasers Group and Sports Direct has been impressive," said Bjørn Gulden, chief executive of Adidas. "The acquisition of SportScheck is another big commitment to the sports industry and a natural evolution in their strategy of becoming a global player. We are committed and excited to support Sports Direct on their journey."

SportScheck is the latest in a long list of purchases by Frasers Group, which last year bought Missguided out of administration for around £20 million. It also purchased I Saw it First (ISIT) and Studio Retail in 2022.

In July, Frasers group increased its stake in BooHoo to 6.7 per cent according to an updated London Stock Exchange holdings filing.

The move solidified the group’s position as one of BooHoo’s biggest stakeholders after it announced a five per cent stake worth £22 million in the Manchester-headquartered fast fashion retailer.

Upon securing the five per cent stake in BooHoo, Frasers described the company as an “attractive proposition” due to its “laser focus” on younger women consumers.

In June, Frasers Group continued its buying streak with the purchase of nearly a fifth of online electronics retailer AO World.

The 18.9 per cent stake cost the Sports Direct owner £75 million after two years of talks, and will see the creation of a ‘strategic partnership’ between the pair.

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