Four years after the first attempt, Intersport Sweden is restructuring as Adelis Equity Partners buys 70 percent of the shares.
”It has long been a goal of the Board and management to form an integrated sports chain,” says Intersport Chairman Lars Ljungälv.
In 2011, Intersport decided to restructure the chain by centralizing the ownership from store owners to the mother company, but the whole process was paused after deadline at the start of next year.
Now Intersport Sweden gets a new majority owner. Adelis Equity Partners has signed an agreement to invest in the Intersport and thereby form an integrated retail chain.
”A great lift on all levels. It gives us new capital and a central and unified organization that will make us grow significantly,” says Intersport CEO Ulf Kinneson.
The deal with Adelis Equity Partners means that Intersport Sweden will acquire approximately 100 Intersport stores which thus becomes wholly owned. The other approximately 50 stores will continue as franchisees.
After the restructuring, Adelis will own 70 percent of Intersport, while the merchants remain with a 30 percent stake in the new group.
”We are very impressed by the work the organization at Intersport done in recent years and strongly believe in management’s strategy and objectives: To become the leading sports retail chain in Sweden. We look forward to continuing to develop the company brand and retail chain”, says Jan Åkesson, Co-Managing Partner of Adelis.
The new group’s turnover amounted pro forma to SEK 3 billion. The entire chain’s sales amount to SEK 4 billion.
Management will be unchanged by Ulf Kinneson as CEO, Annelie Forsberg, CFO, Daniel Anvell as COO and Thomas Petersson as CCO.
“With the support of Adelis financial strength and long-term perspective, we will have the capacity to invest in growth and to achieve our goals. We will of course continue to benefit from our belonging to the world’s largest chain at the international level and continue to strengthen our Nordic cooperation, “says Ulf Kinneson.
Intersport International, the owner and licensor of the brand Intersport, have been involved in the whole process and has approved the transaction. The deal must be approved by the competition authority.