Intersport France buys French sport retailer Go Sport
Nicola Mira
The verdict was eagerly awaited by French sport retailer Go SportIntersport
Intersport France, in collaboration with Qatari company Al-Mana, which will control Go Sport outside France, has acquired 72 Go Sport stores, maintaining 1,446 of the 1,574 retail jobs, and 185 head office jobs. The competing bid made by British group Frasers, via its Sports Direct
Intersport France paid €35 million to acquire Go Sport, against the €10 million offered by Frasers.
In 2022, Intersport France’s sales grew 16.1% to €3.26 billion. The group’s boss, Jacky Rihouet, has promised ”an ambitious industrial project”
According to the court, “the other, more modest bids were not complementary with that of Intersport.”
On April 18, about 20 potential buyers appeared before the Grenoble court to illustrate their bids, while Go Sport’s owner, French group Hermione People & Brands, eventually decided not to submit a turnaround plan. The financial empire of HPB’s owner Michel Ohayon is caught in a perfect storm, since he is also under investigation for “organised gang fraud, repeated money laundering, bankruptcy and abuse of corporate assets.”
Go Sport was founded in 1978 and is based in Sassenage, France. Via the Groupe Go Sport company it currently operates 46 franchised stores outside France, while its subsidiary Go Sport France operates 82 directly owned stores, 87 franchised ones (between the Go Sport and Endurance Shop chains) as well as the Go Sport e-shop.
