12th Jul 2007 07:01
Sports Direct International Plc12 July 2007 12 July 2007 SPORTS DIRECT ACQUIRES FIELD & TREK Sports Direct International plc is pleased to announce the acquisition of a 60%interest in Field & Trek, the outdoor clothing and equipment retailer. Field &Trek operates eleven stores, mostly in the South East of England. It also hasan established on-line offer providing camping and outdoor equipment, waterproofclothing and footwear including selling leading brands such as The North Face,Berghaus, Merrell and Salomon. In the year ending 12 January 2007, Field & Trek's turnover was £14 million.The consideration for the 60% stake is £5 million. Sports Direct has an optionfor five years to acquire the remaining 40% for a further £5million. Dave Forsey, Chief Executive of Sports Direct, said: "This strategic investment by the Company helps to fulfil our objective ofexpanding our outdoor leisure offering. We will continue to seek to createvalue for the Company's shareholders via such acquisitions and investments." For further enquiries, please contact: Sports Direct InternationalDave Forsey, Chief Executive 0870 333 9400Bob Mellors, Group Financial Director Financial DynamicsJonathon Brill / Ben Foster / Andrew Dowler 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Frasers Group