Frasers Group has snapped up South African sporting and outdoor retailer Holdsport from Old Mutual Private Equity and Holdsport’s management, in a bid to “diversify its product range and geographic reach”.
The Sports Direct owner said Holdsport has “well-established relationships with major international brands”, including Nike, adidas, Asics, Hoka, and Garmin, supported by their own brand portfolio including First Ascent, Cape Storm and OTG.
It said the acquisition aligns with its “plans to diversify its product range and geographic reach while leveraging Holdsport’s established market presence and local market expertise”.
Holdsport operates across retail, wholesale, manufacturing, and ecommerce, owns major brands including Sportsmans Warehouse, Outdoor Warehouse, and Shelflife.
The company generated over £130m in sales for the year ending February 2024 and operates 88 stores across South Africa and Namibia.
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This deal comes shortly after Frasers snapped up a “significant” investment into the Malta-based retail business Hudson Group back in October.
Frasers Group CEO Michael Murray said: “Holdsport has built an incredible brand and reputation across Southern Africa, and we see potential in combining their regional expertise and own brands with our scale and resources, establishing a strong platform for growth.
“This acquisition is a great step forward for us, not only in expanding our footprint but also in enhancing our ability to meet the rising demand for high-quality sporting goods in a region with such dynamic growth.”
Holdsport CEO Bradley Moritz added: “We are delighted with Frasers’ acquisition of Holdsport and their inaugural investment into Southern Africa. Frasers is a leading international player in the sports retail industry, and this is a strong vote of confidence in our business and our country.
“Frasers is a natural home for Holdsport, given their passion for sport, outdoor, brands and their focus on customer service and innovation. I look forward to the energy and creativity that the combined businesses will bring, and I have no doubt that with Frasers’ skills, resources and innovation, Holdsport will grow from strength to strength.”
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