Mike Ashley’s Frasers Group has significantly spread its global wings by acquiring leading South African sports and outdoor goods company Holdsport Group – owner of the Sportsmans Warehouse chain – for an undisclosed sum.
Previously in the hands of Old Mutual Private Equity, 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.
The Cape Town headquartered company also owns outdoor, camping, hiking and “adventure retailer” Outdoor Warehouse, complementing Frasers Group’s existing divisions, as well as Shelflife, South Africa’s premium sneaker and streetwear store.
For Holdsport’s financial year ended February 2024, sales generated exceeded £130 million, with “robust profit growth and strong cash flow, underscoring its value to Frasers’ strategic vision”.
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.
Holdsport has well established relationships with major international brands, including Nike, Adidas, Asics, Hoka and Garmin, supported by its own brand portfolio including First Ascent, Cape Storm and OTG.
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.
“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.”
Bradley Moritz, CEO of Holdsport, added: “We are delighted with Frasers’ acquisition of Holdsport and their inaugural investment into Southern Africa. Frasers is a leading international player in the sports retail industry, and this is a strong vote of confidence in our business and our country.”
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.
The takeover also includes Holdsport’s infrastructure, including modern warehouses with capacity for growth and offices in Cape Town and Johannesburg, as well as a factory that supports local manufacturing and distribution.
The 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 major global brands across 36 countries in Europe and North Africa.
