Sportmaster is being sold to company from Singapore

private equity fund Nordic Capital sells Sportmaster to company from Singapore for an undisclosed amount. the store chain Sportmaster has been sold to company

Sportmaster is being sold to company from Singapore

private equity fund Nordic Capital sells Sportmaster to company from Singapore for an undisclosed amount.

the store chain Sportmaster has been sold to company from Singapore.

It confirms Michael Christiansen, who is the chairman of the board of the company behind the Sportmaster, over the stock Exchange.

the Buyer is Sportmaster Operations from Singapore, buying the chain from private equity fund Nordic Capital. The price of the deal is not published.

- They have many muscles and will check in Europe. They are called the same, makes it easier for everyone to understand. It is also cheaper, because that will not be used money on the rebranding, says Michael Christiansen to the Exchange.

Sportmaster has 89 stores in Denmark and also owns seven stores under the name of Rezet Sneaker Store, which is also part of the deal.

the Buyer, Sportmaster Operations, has hundreds of sports stores in Eastern europe and Asia.

the Sportmaster chain has in recent years been challenged on the economy.

In the latest annual accounts got chain a deficit of more than 100 million dollars. The chain has a turnover of about 1.1 billion dollars per year.

Nordic Capital had earlier in the year, step in with 35 million dollars. At the same time forgave Nordea a gældspost of 125 million dollars.

In may, wrote the Exchange, to the owners secretly practised on a sale of the chain, which is dropped in place a little over a half a year later.

/ritzau/

Updated Date: 23 December 2019, 11:00

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