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Stock impact report

Mike Ashley ventures into Africa with sporting goods deal [Yahoo! Finance]

AVOLTA AG UNSP/ADR (DUFRY) 
NASDAQ:AMEX Investor Relations: dufry.com/en/investors
Company Research Source: Yahoo! Finance
Mr Ashley's Frasers Group has agreed a deal to buy Holdsport, a South African retail company focused on the sports, outdoor, and recreation sectors. Holdsport, which operates 88 stores across South Africa and Namibia, generated revenues of more than £130m in the year to February. It owns chains including Sportsmans Warehouse and Outdoor Warehouse, as well as Shelflife, South Africa's premium trainers and streetwear store. Frasers said the acquisition would act as a platform to expand its UK sportswear retailer Sports Direct across Africa. Holdsport has relationships with major brands including Nike, Adidas and Asics. The transaction also includes the South African company's infrastructure – including warehouses, a factory and offices in Johannesburg and Cape Town. Frasers said the deal aligned with its plan to diversify its product range and geographic reach. Terms of the deal with Old Mutual Private Equity and Holdsport's management were not disclosed. The takeover is ex Show less Read more
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