An investment firm co-founded by a former boss of Boots has agreed a merger with a Paris-based competitor to form a major European online sporting goods retailer.
Sky News can reveal SportPursuit, which is part-owned by Mr Baker’s bd-capital, is expected to unveil a tie-up with Private Sport Shop, a Paris-based company backed by Bridgepoint Development Capital, on Tuesday.
The deal will create a group with £172m in combined revenues, and a broader geographical footprint encompassing the UK, France, Germany and ten other countries across the continent.
Sources said the merger would create a new parent company called Sportscape Group which would have the ambition of becoming Europe’s leading sports and outdoor hub for consumers.
Despite the new holding company name, Private Sport Shop and SportPursuit will continue to operate as consumer-facing brands in their home markets, the sources added.
Bd-capital, which was established by Mr Baker and his business partner, the former Advent International executive Andy Dawson, in 2019, invested in SportPursuit just over a year ago.
Boasting nine million members, it sells major outdoor goods brands such as Berghaus, Canterbury and Garmin at deeply discounted prices, and is focused on sports such as snowsports and cycling.
Sources said Sportscape Group would be run by Sébastien Rohart, the CEO of Private Sport Shop, with Adam Pikett, chief executive and co-founder of SportPursuit, becoming chief vision officer and overseeing the strategy of the group.
Equestrian and ultimate fighting
The newly-combined group will create a distribution channel for more than 2,500 brand partners, which will gain access to an audience of more than 24 million sports and outdoor enthusiasts.
One person familiar with the deal said it would give SportPursuit’s UK and German customer base access to sports such as equestrian and ultimate fighting, both of which are available on the Private Sports Shop platform.
It would also benefit the Paris-based company by giving it access to SportPursuit’s technology and data expertise, the person said.
Debt financing for the merger is understood to have been secured from Permira Debt Advisors.
Bd-capital declined to comment, while Bridgepoint could not be reached.
For all the latest business News Click Here
