The Karstadt-Kaufhof parent company takes over a well-known German sporting goods chain. This makes the group one of the leading providers in Germany.
- The Karstadt-Kaufhof parent company Signa Retail takes over a well-known sporting goods provider.
- Bundeskartellamt gives green light for takeover.
- This makes the group the leading provider of sports and outdoor items .
Bonn - The Karstadt-Kaufhof parent company Signa Retail takes over the well-known German sport and outdoor product chain Sport Scheck. This will enable Galeria Kaufhof Karstadt to further expand its position in the German market.
Kaufhof / Karstadt: Bundeskartellamt gives the green light
The Bundeskartellamt gave the company the green light on Monday for the takeover of the competitor Sport Scheck, which had previously belonged to the Otto Group . “The takeover creates the leading provider in sports / outdoor retail in Germany. Nevertheless, the project is harmless in terms of competition, ”said Cartel Office President Andreas Mundt on Monday.
Nationwide, the combined market shares of Signa Retail and Sport Scheck in the relevant areas would remain below 15 percent even after the merger.
Karstadt Kaufhof takes over sport check https://t.co/5C5qmQGnXx #Karstadt #SportScheck
- Tagesschau (@tagesschau) December 11, 2019Galeria becomes the leading provider
With Karstadt Sports, the Galeria-Karstadt-Kaufhof department stores and several specialized sports providers such as Tennis Point and Outfitter, Signa Retail has become one of the leading sports goods providers in Germany in recent years. With the acquisition of Sport Scheck, 19 additional shops and an online shop have been added.
According to the Bundeskartellamt, strong competitors such as Decathlon, but also the sports retailers who are affiliated to the Intersport and Sport 2000 purchasing groups, continue to guarantee effective competition in the industry. And online retailers such as Amazon or the manufacturers' online shops further increased competitive pressure.
Sports check: fight with red numbers
Sport Scheck has been struggling with red numbers for years. The parent company Otto therefore put the company up for sale. Signa Retail sees an important growth market in the sports business .
dpa
List of rubric lists: © dpa / Lino Mirgeler
