The Croatian consumer goods distributor Atlantic Group has raised its stake in UK food company Sports Direct to 100%.
Atlantic acquired 50% of Sports Direct in June when it bought German nutrition products maker Haleko. According to SeeNews, negotiations to buy the remainder were completed last week. Yesterday (1 March) the group announced the acquisition of the remaining 50% of the UK company for an undisclosed sum.
Sports Direct supplies its food products for athletes to more than 600 fitness clubs in the UK. Last year, sales totalled EUR4.5m (US$5.4m), Atlantic said in a statement filed with the bourse in Zagreb.
“The purchase of the remaining 50% stake will enable further strategic investments in development of business on the UK market,” the company added.