Intersport France finalises purchase of Spanish subsidiary for 300,000 euros

Intersport France is poised to become the future owner of the brand and central purchasing office of its Spanish counterpart. According to Modaes, the French subsidiary has submitted an offer of 300,000 euros. This includes the acquisition of assets, some suppliers, and the integration of a significant portion of the workforce. The deal is still pending final judicial approval. It would mark the end of the company's insolvency proceedings in Spain and ensure the brand's operational continuity in the Iberian market.

The French proposal is the only one submitted to the insolvency administrator for the main lot. This lot includes the brand, the central purchasing office, and a substantial part of the human resources. If approved, it would resolve several months of uncertainty since last March, when Intersport Spain, a central office for sports fashion and equipment, declared itself bankrupt.

The French subsidiary's interest in controlling the Spanish assets is not new. Industry sources indicate that discussions date back to before the insolvency proceedings. At that time, the possibility of taking over the distribution licence and the Spanish subsidiary's stake in the Swiss parent company was already being explored. However, those initial negotiations failed because the Spanish party rejected an offer that did not include the assumption of debt.

During the summer, the company attempted to avoid liquidation through a viability plan. This plan proposed write-offs of up to 70 percent on liabilities estimated at between 14 and 30 million euros, spread across different companies. However, after two months of negotiations with a pool of creditors, which included major banks and strategic suppliers like Nike and Puma, the rescue attempt failed. The company then formally began its liquidation process.

The acquisition by Intersport France represents a strategic step in the group's consolidation within the Iberian market. The company operates under a cooperative model that brings together national subsidiaries with independent management. They are united by the goal of achieving greater negotiating power with global brands. Meanwhile, the rest of the Spanish business, primarily the retail network, has been divided into fourteen lots. These are mostly based on geographical criteria and are still in the process of receiving offers.

The operation aligns with the growth and strengthening strategy that Intersport France is promoting on a European scale. The cooperative ended 2024 with a 6.3 percent increase in its turnover, reaching 3.88 billion euros. This was driven in part by the integration of its competitor Go Sport and a 16 percent rise in online sales. Looking ahead to 2030, the group projects a turnover of 5.5 billion euros. It also plans to invest between 70 and 100 million euros over the next three years to strengthen its omnichannel proposition and unify its commercial network.

This article was translated to English using an AI tool.

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