UK-based retail conglomerate Frasers Group has finalised its agreement to acquire South Africa’s sporting goods retailer Holdsport, expanding its regional footprint and strengthening its global growth strategy.
Holdsport is the parent company of sports retailer Sportsmans Warehouse and Outdoor Warehouse, which caters to outdoor activities such as camping and hiking.
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The company also owns Shelflife, a high-end sneaker and streetwear outlet.
With 88 stores across South Africa and Namibia and a growing e-commerce platform, Holdsport provides an opportunity for Frasers to extend its Sports Direct brand in the region.
The company also maintains partnerships with major brands such as Nike, adidas, Asics, Hoka, and Garmin and has developed its own brands First Ascent, Cape Storm, and OTG.
During the year ending February 2024, Holdsport’s revenue surpassed R3bn ($165.22m).
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By GlobalDataThe acquisition also includes Holdsport’s infrastructure, such as modern warehouses in Johannesburg and Cape Town with capacity for future growth, and a factory supporting local manufacturing.
This infrastructure complements Frasers’ recent investment in the Hudson Group, expanding its retail reach into Europe and North Africa.
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.”
The transaction will finalised in early 2025.
In October 2024, Frasers made a potential £83m ($111m) offer to acquire luxury handbag manufacturer Mulberry.
However, Mulberry rejected the takeover bid, saying it undervalued the brand.
Frasers recently called for an additional shareholder meeting, providing Boohoo shareholders with the chance to vote on removing Mahmud Kamani, the company’s executive chairman, from his role as a director.
Frasers is also recommending that shareholders vote to appoint Ashley and Lennon as directors of Boohoo during the meeting scheduled for 20 December 2024.
