Cisalfa Sport S.p.A. is the new preferred business partner of SportScheck GmbH and set to join the business operations. A corresponding agreement is still subject to approval by the German Federal Cartel Office, but the deal is expected to be finalized by June 2024.
The German retail chain SportScheck will continue to operate its brand and business in its current form with headquarters in Munich while benefiting from synergies with the Cisalfa group. Cisalfa is Italy’s largest sports retailer, with over 150 Cisalfa Sport stores in Italy and 50 stores in Germany through its subsidiary Sport Voswinkel GmbH, which Cisalfa acquired in November 2023.
The parties involved stated that no further details of the agreement can be disclosed until the German Federal Cartel Office approves it, which is expected in April 2024.
“We believe that this agreement will allow us to further increase our presence in Germany and also in the DACH region,” said Boris Zanoletti, General Manager of Cisalfa. “Thanks to our longstanding experience in the sporting goods industry, we aim to accelerate SportScheck’s position as a premium sports retailer.”
“The past weeks of negotiation have been very intense after the opening of insolvency proceedings. Cisalfa Sport is a very successful, long-term oriented sportswear retailer, providing SportScheck with the strategically right setup and interesting growth opportunities,” commented Matthias Rucker, CEO of SportScheck.
On Nov. 30, 2023, SportScheck – founded by Otto Scheck in 1946 – had to file for voluntary insolvency proceedings after the previous owner Signa Holding filed for insolvency. On March 1, 2024, the Munich local court opened insolvency proceedings for the assets of SportScheck GmbH and appointed lawyer and restructuring expert Axel Bierbach from the law firm Müller-Heydenreich Bierbach & Kollegen as administrator. Throughout the time since Signa got into difficulties, many rumors circulated about a takeover of SportScheck. Most recently, the British Frasers Group was interested but withdrew when SportScheck filed for insolvency.
