Signa Sports United has announced the acquisition of a majority stake in an American online tennis retailer, Midwest Sports, subject to customary conditions for deal closing.
The transaction strengthens the international reach and market position of Tennis-Point, one of the numerous web stores of Signa Sports United. Based like its parent company in Germany, and run by its founder, Christian Miele, Tennis-Point has already moved into Spain and other countries.
Signa Sports United, which is controlled by Signa Retail, already runs more than 80 web shops in 17 countries, reaching more than four million active customers and 300 million visitors each year. They also cover the bike, outdoor and team sports sectors.
Noting that Tennis-Point is already the exclusive global online retail partner of the International Tennis Federation (ITF), Signa Sports United says it will use Midwest Sports “to enhance its position as the world’s leading tennis platform and replicate its European strategy in the U.S.”
While competing with the likes of Tennis Warehouse, Midwest Sports currently operates only in the U.S., the biggest tennis market in the world, where it claims to be one of the three major online tennis retailers. The company was founded more than 20 years ago by its current president, Greg Wolf, and his brother. It is based in Cincinnati, Ohio.