French sport retailer Go Sport has been acquired by Intersport France, according to a statement from the Grenoble commercial court. The retailer had been in receivership since January 2023, and its 2,150 employees were eagerly awaiting the court’s decision. Intersport France’s bid was unanimously favored by the court, ensuring that 90% of the retailer’s jobs will be preserved.

As part of the acquisition, Intersport France has partnered with Qatari company Al-Mana, which will have control over Go Sport’s operations outside of France. The deal includes 72 Go Sport stores, with 1,446 retail jobs and 185 head office jobs being maintained. British group Frasers, through its subsidiary Sports Direct, also made a bid for Go Sport, which would have involved acquiring 75 stores and preserving 1,477 jobs. However, Intersport France’s bid was chosen as they offered €35 million, compared to Frasers’ offer of €10 million.

Intersport France reported a sales growth of 16.1% in 2022, reaching €3.26 billion. The company’s CEO, Jacky Rihouet, has announced an ambitious industrial project for Go Sport, which will be supported by an investment of approximately €150 million over the next seven to eight years. This investment aims to revive the struggling retailer and bring it back to profitability.

The court stated that the other bids made by potential buyers were not seen as complementary to Intersport France’s offer. On April 18, around 20 potential buyers presented their bids to the Grenoble court. Go Sport’s owner, French group Hermione People & Brands, chose not to submit a turnaround plan. It is important to mention that Hermione People & Brands’ owner, Michel Ohayon, is currently under investigation for various financial crimes.

Founded in 1978 and headquartered in Sassenage, France, Go Sport operates 82 directly owned stores in France, 87 franchised stores (including the Go Sport and Endurance Shop chains), and an e-shop through its subsidiary, Go Sport France. It also has 46 franchised stores operating outside of France under the Groupe Go Sport company.

Useful links:
1. Intersport France Official Website
2. Go Sport Official Website