Italian retail company Cisalfa Sport has reached a deal to take over Germany-based omni-channel sporting goods retailer SportScheck.
The move comes after Cisalfa acquired Sport Voswinkel in November 2023.
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The acquisition enhances Cisalfa’s presence in Germany and the DACH area (Germany, Austria and Switzerland).
SportScheck CEO Matthias Rucker said: “The past weeks of negotiation have been very intense after the opening of insolvency proceedings. Cisalfa Sport is a very successful, long-term-oriented sportswear retailer, providing SportScheck with the strategically right set-up and interesting growth opportunities.
“I am very pleased for our entire SportScheck team, having this perspective to continue shaping sports retail in the DACH region in the coming years.”
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SportScheck was established in 1946 by Otto Scheck. It now has more than 30 stores in Germany.
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By GlobalDataThe retailer also has an online presence in Austria and Switzerland through its website and app.
SportScheck will maintain its brand and commercial individuality while benefitting from the synergies and economies of scale offered by the Cisalfa Group.
Details of the transaction remain confidential while the deal is pending approval from the German Antitrust Authority (Bundeskartellamt).
The company expects approval in April 2024, with the transaction finalised by June.
Clearwater International has advised Cisalfa on the transaction.
SportScheck, which was part of the debt-laden Austrian property empire Signa, filed for insolvency with a court in Munich in November 2023.
British retail company Frasers Group had shown interest in acquiring SportScheck’s business and assets.
In October 2023, the two companies reached an agreement for an undisclosed sum to expand Frasers’ presence in Germany, but the deal had not been finalised.
