Sports Direct owners agree conditional deal to buy shares in Malta-based Hudson Holdings

The owners of the company which runs globally-renowned brands such as Sports Direct have signed a conditional agreement to buy shares in the Malta-based company Hudson Holdings.Hudson is one of Malta’s leading sports retail and runs franchises

By: independent.com.mt

Oct 14 2024
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Sports Direct owners agree con

The owners of the company which runs globally-renowned brands such as Sports Direct have signed a conditional agreement to buy shares in the Malta-based company Hudson Holdings.

Hudson is one of Malta’s leading sports retail and runs franchises such as Intersport and Urban Jungle in Malta, while being the agents for leading brands such as Nike. The company is also present around Southern Europe and in parts of Africa.

In a company announcement on the Malta Stock Exchange, Hudson said that it had successfully concluded negotiations and entered into a Master Framework and Shareholders’ Agreement as of 11th October 2024 with Frasers Group PLC, “an international leader in the retail sector.”

The announcement states that Frasers may – subject to the satisfaction of a number of conditions – acquire a non-controlling shareholding in Hudson, with the possibility of further staggered acquisitions by Frasers at future dates resulting in Frasers taking on a controlling interest in Hudson.

This supersedes a non-binding letter of intent dated 10 October 2023, which allowed Frasers to make a “significant investment” in the business which would in turn allowed Hudson to obtain the rights to operate some of Fraser’s brands locally.

Based in the UK, Frasers is best known for its ownership of the sports retail brand Sports Direct. It also owns well known retailers Jack Wills, Flannels and House of Fraser. The company was established in 1982 by Mike Ashley, who remains its owner.

Ashley was the CEO of Sports Direct between 1982 and 2018, but was also very well-known as being the owner of Premier League football club Newcastle United between 2007 and 2021.

Frasers registered revenue of £5.56 billion pounds with a net income of £501 million in 2023 and employs some 30,000 people. As of 2022, Sports Direct had 715 stores globally.