Frasers has announced the conclusion of the acquisition of South Africa's leading sporting, outdoor and recreation goods company, Holdsport from Old Mutual Private Equity (OMPE) and latter’s management.
The company said in a release that Holdsport is a diversified business operating across retail, wholesale, manufacturing, distribution, and e-commerce, focused on the sport, outdoor, and recreation sectors across South Africa and Namibia.
Commenting on the acquisition, Michael Murray, CEO of Frasers Group, said: "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."
Holdsports is home to sporting goods chain Sportsmans Warehouse and Outdoor Warehouse, an outdoor, camping, hiking, adventure retailer - complementing Frasers’ existing divisions.
Frasers added that Holdsport also owns Shelflife, South Africa's premium sneaker and streetwear store.
For the financial year ended February 2024, Holdsport’s sales exceeded 3 billion South African rand (130 million pounds), with robust profit growth and strong cash flow.
The company further said that with a total of 88 stores across South Africa and Namibia and a rapidly growing e-commerce offering, Holdsport's network will act as a platform to expand Sports Direct across the region. Frasers Group will utilise this strong position to grow its sport, fashion and brand distribution presence, furthering its commitment to international expansion.
Holdsport enjoys well-established relationships with major international brands, including Nike, Adidas, Asics, Hoka, and Garmin, supported by their own brand portfolio including First Ascent, Cape Storm and OTG. The acquisition aligns with Frasers Group's plans to diversify its product range and geographic reach while leveraging Holdsport's established market presence and local market expertise.
"Frasers is a natural home for Holdsport, given their passion for sport, outdoor, brands and their focus on customer service and innovation. I look forward to the energy and creativity that the combined businesses will bring, and I have no doubt that with Frasers' skills, resources and innovation, Holdsport will grow from strength to strength," added Bradley Moritz, Holdsport CEO.
The acquisition also includes Holdsport's infrastructure, including warehouses with capacity for growth and offices in Johannesburg and Cape Town, as well as a factory that supports local manufacturing and distribution.
This deal comes shortly after Frasers announced a significant investment into the Malta-based retail business Hudson Group, which operates sport, lifestyle and fashion stores and distribution of global brands across 36 countries in Europe and North Africa.
