Old Mutual Private Equity exits Holdsport to UK-based retail giant

UK-based retail giant Frasers Group has acquired South African sporting, outdoor and recreation goods company Holdsport from Old Mutual Private Equity and Holdsport’s management.

Holdsport is a diversified business operating across retail, wholesale, manufacturing, distribution, and e-commerce, focused on the sport, outdoor, and recreation sectors across South Africa and Namibia. It is home to Sportsmans Warehouse, a regional sporting goods chain, and Outdoor Warehouse, an outdoor, camping, hiking, and adventure retailer. It also owns Shelflife, a South African sneaker and streetwear store. For Holdsport’s financial year, which ended in February 2024, sales generated exceeded ZAR3 billion (£130 million). 

With 88 stores across South Africa and Namibia and a rapidly growing e-commerce offering, Holdsport’s network will act as a platform to expand Fraser’s Sports Direct. The acquisition also includes Holdsport’s infrastructure, including warehouses and offices in Johannesburg and Cape Town, as well as a factory supporting local manufacturing and distribution. 

This deal comes shortly after Frasers announced a significant investment into the Malta-based retail business Hudson Group, which operates sport, lifestyle and fashion stores and distributes major global brands across 36 countries in Europe and North Africa.

Michael Murray, CEO of Frasers Group, said: “Holdsport has built an incredible brand and reputation across Southern Africa, and we see potential in combining their regional expertise and own brands with our scale and resources, establishing a strong platform for growth. This acquisition is a great step forward for us, expanding our footprint and enhancing our ability to meet the rising demand for high-quality sporting goods in a region with such dynamic growth.”

Jacci Myburgh and Chumani Kula, co-heads of Old Mutual Private Equity, said: “Holdsport is an iconic South African business that has been well loved and regularly supported by many South African households over the years. We are proud to have been the custodian of such a strong business with a great platform offering well-known local and international brands. The acquisition by Frasers, a well-respected global retailer, is a testament to the quality of the Holdsport offering and demonstrates confidence in the South African economy. Furthermore, the transaction reaffirms our expertise in investing alongside strong and aligned management teams in high-quality businesses to inspire an ownership and growth mindset to achieve an attractive investment outcome for our investors whilst ultimately ensuring the right home for the business and the management team. We wish Frasers and the Holdsport management team all the best for their next chapter.”

Holdsport was previously listed on the JSE during 2011-2017 and was a subsidiary of Long4Life from 2017 to 2022, which was also listed on the JSE and was subsequently delisted by Old Mutual Private Equity in 2022.
The transaction is subject to customary regulatory approvals and is expected to close in the coming months.