Frasers Group, owned by billionaire Mike Ashley, announced on Tuesday its acquisition of South African sporting goods company Holdsport, Reuters reported.
Frasers Group is acquiring Holdsport from Old Mutual Private Equity and its management for an undisclosed amount. The company stated that Holdsport’s network will serve as a foundation to expand Sports Direct in the region, aligning with Frasers’ strategy to diversify its product offerings.
Michael Murray, chief executive of Frasers Group, commented: ‘Holdsport has built an incredible brand and reputation across Southern Africa, and we see potential in combining their regional expertise and own brands with our scale and resources, establishing a strong platform for growth.
‘This acquisition is a great step forward for us, not only in expanding our footprint but also in enhancing our ability to meet the rising demand for high-quality sporting goods in a region with such dynamic growth.’
Holdsport operates across retail, wholesale, manufacturing, distribution, and e-commerce. Its portfolio includes Sportsmans Warehouse, a leading sporting goods chain; Outdoor Warehouse, specialising in outdoor, camping, and adventure gear; and Shelflife, South Africa’s premier sneaker and streetwear store.
Holdsport operates 88 stores across South Africa and Namibia, complemented by a fast-growing e-commerce platform. The company reported sales exceeding £130 million for the year ending February 2024. It partners with global brands like Nike, Adidas, Asics, Hoka, and Garmin, while also offering its own brands, including First Ascent, Cape Storm, and OTG.
The acquisition includes Holdsport’s infrastructure, such as warehouses with growth capacity, offices in Johannesburg and Cape Town, and a factory supporting local manufacturing and distribution.
Frasers Group’s acquisition of Holdsport follows its recent purchase of a significant non-controlling stake in Hudson Malta, a retail and distribution business operating across 36 African countries. This strategic move reflects Frasers’ commitment to expanding its international footprint and aligns with its growth ambitions in the EMEA region.
