The British retail group Frasers Group Plc has acquired a majority stake in the Italian sporting goods chain Maxi Sport SpA. With this step, the company is continuing its global expansion strategy.
Exact terms and details of the agreement, including the amount of the acquired stake, were not initially disclosed in the announcement. The owners of Maxi Sport, Emanuele, Giovanni, Ester and Guilia Sala, will retain a stake and maintain their positions in the management team.
Frasers CEO Michael Murray said in a statement that he was looking forward to combining the group’s international experience with Maxi Sport’s regional expertise to expand the retailer’s offering.
Frasers plans future launch of Sports Direct in Italy
The acquisition appears to be the first step in a broader partnership between the two companies. Murray revealed that in addition to expanding Maxi Sport’s capacity, there was also the possibility of introducing Frasers’ flagship brand, Sports Direct, into Italy in the future.
With the addition of Maxi Sport to its portfolio, Frasers further expands its global presence as part of its ongoing Elevation Strategy. This strategy focuses on enhancing the brand portfolio and international network, particularly in Europe and Asia Pacific.
Maxi Sport is a complement to these efforts. The company already operates 18 stores across Italy. It offers sporting goods and winter equipment in various categories. It also owns a number of sports retail brands including Space23, BSS, Frisco, Athletic and Special, among others.
The deal follows Frasers’ acquisition of Hervis’ Hungarian and Romanian operations. As a result, the portfolio in Central Europe was expanded by over 75 branches.
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