Frasers Group PLC, formerly called Sports Direct, has agreed to purchase rival sportswear and gym group Dave Whelan Sports (DW) from administrators. The acquisition will include 46 gyms and 31 retail outlets.
When it went into administration earlier this year, DW operated 73 gyms and 75 retail stores in the UK. Sister company Fitness First is a separate entity.
The purchase price is for £37 million and a further £6.9 million from DW’s gyms. DW had a loss of £20 million in the year ending March 2019.
Frasers, which also owns Lillywhites and House of Fraser, said the DW assets would “compliment (sic)” its own gym and fitness club portfolio and would now be managed under its Everlast brand. Jack Wills, Evans Cycles and House of Fraser have all recently been acquired by Frasers.
Frasers said, “The Transaction compliments the existing gym and fitness club portfolio within the company’s group and is consistent with the group’s elevation strategy. Frasers Group looks forward to elevating the gym and fitness assets acquired pursuant to the Transaction under the group’s existing iconic Everlast brand, and is also pleased to have saved a number of jobs.”
DW also owns the Fitness First gym chain which is unaffected by the administration.
Photo courtesy Dave Whelan Sports
