Sporting goods retailer Sports Direct is further expanding
its reach with the acquisition of the majority stake in two European retailers:
Austrian-based Sports Eybl & Sports Experts (EAG) and Sportland
International Group (SIG), based in the Baltic region. The company paid €10.5
million for a 51 percent share of EAG and agreed to invest €30 million in
subordinated debt. It took a 60 percent equity stake in SIG, which operates the
Sportland, Sportland Outlet, Timberland, O’Neill, Nike and Nike Outlet retail
chains in Estonia, Latvia and Lithuania. Terms of the SIG deal were not
disclosed but Sports Direct stated that the consideration for both transactions
will be funded from its operating cash flows and existing bank facilities.
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