As part of Frasers, Sport Scheck is expected to benefit from the group’s “Elevation Strategy,” which has led to strong performance across the business through investment in store concepts, digital capabilities and strengthened brand relationships, the company said.
“The acquisition of the leading sporting goods retailer in Germany is a major step on our journey to become the number one sports retailer in Europe, the Middle East and Africa (EMEA) – and we are delighted to be able to do this with the full support of major global brand partners:in Adidas and Nike,” said Michael Murray, CEO of Frasers Group. “Growing and expanding our sports business is a key focus as we move towards becoming an international retailer. The German market represents a great opportunity for us, and we look forward to bringing our experience, resources and relationships to strengthen the SportScheck business.”
SportScheck, originally part of Hamburg-based Otto Group, was acquired by Austria’s Signa Group in early 2020. SportScheck, which has 34 stores, is estimated to have sales of around 350 million euros.
Frasers Group began in 1982 with a small store in Maidenhead in Berkshire, England. In 2019, the Sports Direct International brand was rebranded to Frasers Group plc, reflecting the group’s growth and change in market identity. Brands in the portfolio include Sports Direct, Flannels, House of Fraser, Everlast, Evans Cycles and many more. Frasers Group provides consumers with access to the world’s best sports, premium and luxury brands. As an industry leader, Frasers Group is committed to reimagining retail by driving digital innovation and delivering unique store experiences to its customers worldwide.
The closing of the transaction in the first quarter of 2024 subject to regulatory approval.