Frasers Group to buy German sports retailer SportScheck

Mike Ashley’s Frasers Group said on Tuesday that it has agreed to buy German sports retailer SportScheck from Signa Retail Department Store Holding for an undisclosed sum.

The company - which owns House of Fraser, Sports Direct and Flannels, among others - said the deal will enable it to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the sports segment.

SportScheck has over 75 years of expertise in sports retail, with 34 stores in prime city locations across Germany, revenue of around €350m, and a loyal customer base of over 13m visitors per year.

Chief executive officer Michael Murray said: "Acquiring the leading sporting goods retailer in Germany is a big step in our journey to becoming the number one sports retailer in EMEA - and we are delighted to do this with the full support of major global brand partners, Adidas and Nike.

"Growing and expanding our sports business is a key focus area in becoming an international retail business. The German market represents a huge opportunity for us, and we look forward to bringing our experience, resources and relationships to strengthen the SportScheck business."