British sportswear and apparel retailer Frasers Group has acquired WIT Fitness, a specialist in gym and fitness wear, for an undisclosed sum.
The deal includes WIT Fitness’ assets and intellectual property (IP).
Headquartered in London, WIT Fitness employs 15 staff.
It provides CrossFit training, a high-intensity fitness programme, which has more than 13,000 affiliates worldwide.
Frasers Group acquisitions head James France stated: “We are pleased to have acquired the assets and IP of WIT Fitness, a globally recognised CrossFit and fitness performance brand.
“This acquisition supports our ambition to be a world-leading sports retailer, by bringing another elevated sports brand into Frasers Group’s diverse ecosystem. We look forward to investing in the future success of this globally recognised brand.”
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The move is part of Frasers Group’s ongoing strategy to expand its presence in the retail sector.
The latest acquisition will also strengthen the company’s sports portfolio, which already includes Sports Direct, Evan’s Cycles, Lillywhites and Everlast Gyms.
The group, which is majority-owned by prominent businessman and Sports Direct founder Mike Ashley, has been actively acquiring retailers and increasing its stakes in companies such as Boohoo and ASOS.
In October, the Frasers Group signed a binding agreement to acquire German sports retailer SportScheck for an undisclosed amount.