REG - Frasers Group PLC - Business acquisition

FrasersAnnouncement

17/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231017:nRSQ2983Qa&default-theme=true

RNS Number : 2983Q  Frasers Group PLC  17 October 2023

Date: 17 October 2023

 

FRASERS GROUP PLC

 

 

 

Frasers Group plc ("Frasers" or the "Group") announces that it has entered
into a binding agreement with Signa Retail Department Store Holding GmbH to
acquire SportScheck, one of the leading sports retailers in Germany.

 

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 has over 75 years of expertise in sports retail, with 34
stores in prime city locations across Germany, revenue of approximately
€350m, and a loyal customer base of over 13 million visitors per year. As
part of Frasers, 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 (as referenced in previous announcements), therefore has the support to
assist in its international expansion strategy.

 

Michael Murray, CEO of Frasers Group, commented: "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."

 

Bjørn Gulden, CEO of Adidas AG: "Michael's elevation of Frasers Group and
Sports Direct has been impressive. 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."

 

Completion of the transaction will be subject to Merger Control Clearance. We
expect the transaction to close in the first quarter of 2024 and will update
the market in due course.

 

Ends

 

 Frasers Group plc

 Robert Palmer, Company Secretary                    T. 0344 245 9200

 LEI: 213800JEGHHEAXIJDX34                           E. company.secretary@frasers.group

 Chris Wootton, Chief Financial Officer              T. 0344 245 9200

                                                     E. financial@frasers.group

 Ronnie Laffar, Head of PR & Communications          T. 07585 886189

                                                     E. fgpr@frasers.group

 Andrew Kasoulis, Investor Relations Director        T. 0344 245 9200

                                                     E. investor.relations@frasers.group

 Rosie Oddy, Brunswick Group, PR Advisors            T. 07734 861279

                                                     E. frasersgroup@brunswickgroup.com

 Barclays Bank PLC, acting through

 its Investment Bank

 Nicola Tennent                                      T. 020 7623 2323

 Stuart Muress

 Numis                                               T. 020 7260 1000

 Luke Bordewich

 Stuart Ord

 Ollie Steele

 Liberum                                             T. 020 3100 2000

 John Fishley

 Kane Collins

 Nikhil Varghese

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQFZMMGRVKGFZM