Sports Direct acquires stakes in European retailers

Sports Direct is plotting international expansion after buying

majority stakes in two sportswear retailers based in Austria and the Baltic Region.

The group has acquired a 51 percent stake in Sports Eybl & Sports Experts (EAG), the leading sporting goods retailer in Austria, for 10.5 million euros, while also agreeing to invest 30 million euros into EAG’s unsubordinated debt.

EAG is divided into two categories, the Eybl stores, which operate as Austria’s largest sports specialist, and Sports Extra, which is focused on the value sector. Ebyl has 29 Austrian stores and one in Germany, while Sports Expert operates 26 stores in Austria and two in Germany.

In addition, Sports Direct has also acquired 60 percent stake in the Sportland International Group, which is the largest sporting goods retailer in the Baltic region with 80 stores. The group operates the Sportland, Sportland Outlet, Timberland, O'Neill, Nike and Nike Outlet retail chains in Estonia, Latvia and Lithuania.

Dave Forsey, Chief Executive of Sports Direct International plc, said: "The strategic investments announced today in Austria and the Baltic region represent a continuation of our previously stated European expansion plans.

“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.

“We are delighted to be working with strong local partners such as the Eybl Family, Are Altraja and Anti Kalle and have every confidence in their ability to grow their businesses in Austria and the Baltics."