Sports Direct looks to acquire Heatons' owner
Sports Direct International is looking to takeover Warrnambool, the holding company of retail business Heatons.
Frasers Group
750.50p
17:15 18/11/24
0.33%
2.50p
FTSE 100
8,109.32
16:35 18/11/24
n/a
n/a
FTSE 350
4,473.50
17:09 18/11/24
n/a
n/a
FTSE All-Share
4,431.13
16:49 18/11/24
n/a
n/a
General Retailers
4,599.68
17:09 18/11/24
0.42%
19.30
The FTSE 100 company announced on Wednesday it had entered into a sale and purchase agreement with minor shareholder Sandra Minor, as well as a conditional put and call option agreement over any remaining shares owned by a number of shareholders.
The UK-based sports retailer already owns a 50% stake in Warrnambool and will purchase the remaining 50% for €47.5m.
Sports Direct chief executive Dave Forsey said he looks forward to "accelerating investment into the existing store portfolio and strengthening the Heatons and Sports Direct brands across Ireland."