SPORTMASTER BOUGHT DANISH SPORT RETAILER

The major Russian retailer Sportmaster bought Danish sporting goods company Sport Nordic Holding ApS, Interfax reports.

The parent company of Sportmaster is Sportmaster Operations Pte. Ltd. bought the Danish company Sport Nordic Holding ApS, which runs the Sportmaster and Rezet Sneaker Store chain stores. The parties have already closed the deal, the amount was not disclosed. The purchase was the first investment by the Sportmaster group in Western Europe. Group Director Dmitry Barkov said that the retailer plans to use the purchase to develop the business in this region. The Danish networks will be managed by Janusz Gembarski, Director of the Sportmaster Group’s Business Development Department. The company confirms that there will not be any significant changes in the work of the Danish networks.

The Danish Sport Nordic Holding ApS manages 89 offline stores and an online platform, which in 2019 accounted for about 20% of revenue. The total sales of the retailer for the year amounted to 1.1 billion Danish kroner (about 10.9 billion rubles).

The Sportmaster group has more than 1,400 stores under the Sportmaster, O’Stin and Funday brands in Russia, Kazakhstan, Ukraine, Belarus, and Poland. The retailer began operations in Poland in 2019. The group's revenue in 2019 amounted to more than 160 billion rubles.