Nordic Capital Fund VII has entered into an agreement to acquire SPORT-MASTER - Denmark's largest sporting goods chain SPORT-MASTER and Nordic Capital Fund VII ("Nordic Capital") will continue to develop the business' strong market position and meet the Danes increased consumption of sports clothing and equipment for active recreation.
Founded in 1979, SPORT-MASTER has developed into Denmark's leading chain of sporting goods retailers. With more than 100 shops and approximately 1,000 employees across Denmark, SPORT-MASTER has a strong concept and a nationwide network of well-assorted shops.
"For many years, SPORT-MASTER has successfully developed systems, concepts and conducted marketing campaigns that have propelled the chain into a leading market position. Nordic Capital will, jointly with SPORT-MASTER's management and skilled store employees, contribute to the continued development of the business and looks forward to providing skills and capital for further growth," said Michael Haaning, Principal, NC Advisory A/S, advisor to the Nordic Capital funds.
SPORT-MASTER benefits from growing consumer demand for sportswear and equipment in an active leisure life. In recent years, the chain has enjoyed continuing growth and progress in spite of the general economic crisis.
To date, SPORT-MASTER has operated as a voluntary network under Sport Danmark A/S, whose chairman, Jørgen Andsbjerg, provided the following comments on the agreement:
"We have worked thoroughly to identify the appropriate future structure for SPORT-MASTER. Key characteristics of our shop owners are that they possess great business acumen, a passion for sports and an ability to generate strong earnings, so we have been so fortunate that we have been able to select the best possible solution. We have in Nordic Capital found a strong and committed partner with an ambitious approach to further develop SPORT-MASTER."
The parties have agreed not to disclose the terms and conditions of the acquisition. Closing of the agreement is subject to approval by the competition authorities.
For further information, please contact:
Michael Haaning, Principal, NC Advisory A/S, advisor to the Nordic Capital funds Phone: +45 20 20 96 16
Jørgen Andsbjerg, Chairman, Sport Danmark A/S Phone: +45 40 78 88 66 E-mail: firstname.lastname@example.org
Since its inception in 1979, SPORT-MASTER has constantly updated its concept, thereby making it Denmark's leading sporting goods chain with a strong market position and a strong brand. SPORT-MASTER is Denmark's largest chain of independent sporting goods retailers with more than 100 shops across Denmark, the Faroe Islands and Greenland. The chain employs more than 1,000 staff. Additional information about SPORT-MASTER is available at www.sportmaster.dk