Frasers Group, led by CEO Michael Murray, is making another bold move in the retail industry with its latest acquisition target: Germany’s top sports retailer, SportScheck. In an agreement with Signa Retail Department Store Holding, Frasers Group has entered into a binding agreement to acquire SportScheck, pending merger control clearance.

SportScheck, a longstanding company with a 75-year history, currently operates 34 stores in prime locations across Germany and generates an annual revenue of approximately €350 million. With over 13 million visitors each year, SportScheck has firmly established itself as a leader in Germany’s sports retail market.

By acquiring SportScheck, Frasers Group aims to expand its presence in Europe’s largest sports market and position itself as a formidable competitor to UK retail giant, JD Sports, which has also been making significant international strides.

Frasers Group plans to apply its successful Elevation Strategy to enhance SportScheck’s performance. This strategy, which focuses on investing in store concepts, digital capabilities, and brand relationships, has proven effective in driving growth across Frasers Group’s portfolio of brands. Additionally, as a strategic partner to renowned sports brands like Nike and Adidas, Frasers Group believes it can provide valuable support for SportScheck’s international expansion strategy.

CEO Michael Murray expressed his enthusiasm for the acquisition, seeing it as a pivotal step towards becoming the leading sports retailer in the EMEA region. Murray also emphasized the support of major global brand partners, Adidas and Nike, in this endeavor. He views the German market as a tremendous opportunity and intends to bring Frasers Group’s experience, resources, and industry relationships to strengthen SportScheck’s business.

Bjørn Gulden, CEO of Adidas, commended Frasers Group’s efforts under Michael Murray’s leadership and viewed the acquisition of SportScheck as evidence of their commitment to the sports industry and their evolution as a global player. Adidas is excited to support Sports Direct, a subsidiary of Frasers Group, on their ambitious journey.

The completion of the SportScheck acquisition is expected to occur in the first quarter of 2024, pending merger control clearance. Frasers Group’s ongoing expansion demonstrates its determination to diversify and solidify its position in the retail market, both domestically in the UK and internationally. With SportScheck joining its portfolio, Frasers Group is poised to make a significant impact in the German sports retail sector and beyond.

For more information about Frasers Group and its acquisitions, visit their official website [insert link]. To learn more about SportScheck and its offerings, visit their website [insert link].