Sports Direct makes two European acquisitions

 
Suzie Neuwirth

UK SPORTS retailer Sports Direct today announced that it has agreed to acquire majority stakes in two European retailers.

The 470-store chain will acquire a 51 per cent stake in Austrian sports retailer Sports Ebyl & Sports Experts and a 60 per cent stake in Baltic firm Sportland International Group.

Sports Direct has seen improved performance since the demise of rival JJB last October.

“The strategic investments announced today in Austria and the Baltic region represent a continuation of our previously stated European expansion plans,” said chief executive Dave Forsey.

“Expected benefits from these investments include increased scale for our international business, growing international awareness of our group brands and additional expertise in specialist product categories such as winter sports.”