Intersport France expands with the takeover of Spain and Portugal operations

The observe document of Intersport France and Belgium’s new managing director, Philippe Giovanni, a specialist in consolidating distribution networks, advised potential exterior progress strikes. The cooperative is now considerably increasing its community, marking not the absorption of a model in France however a geographical enlargement.

In a press launch on November 3, the French cooperative introduced that it had been “entrusted by ICC with the responsibility of overseeing Spain and Portugal, by structuring a Southern European hub which will bring together France, Belgium, Spain and Portugal.”

For a number of months, questions surrounded the future of Intersport’s Iberian operations. The group had utilized earlier this yr for courtroom safety after dealing with challenges repaying its debt. This entity comprised 130 firms working Intersport-branded shops and employed greater than 130 folks. It had been searching for patrons for a number of months, with Spanish media estimating a possible buy value of round €300 million ($323 million).

“This new step marks the recognition of the know-how of our French cooperative and of our ability to build a strong collective dynamic,” stated Gérard Leclerc, now president of Intersport France, Spain, Portugal & Belgium. “By structuring a Southern European hub, we are affirming our ambition to make Intersport a benchmark player in a strategic area of the European sports market.”

Intersport France and Belgium didn’t disclose the transaction quantity. For the entity based mostly in Longjumeau, in the Paris area, the transfer “is in line with the transformations we have carried out together in recent years: the acquisition of Go Sport, the modernization of our store network and the launch of our new brand platform.”

The firm plans to “build on the know-how, performance and robustness of the French model” and is creating an Iberian subsidiary, whereas Intersport France takes over the Spanish central workplace and its employees.

Intersport France and Belgium report income of €3.88 billion ($4.18 billion) and maintain a market share of greater than 14%.