Decathlon focuses the purchase of Intersport in the Canary Islands and will take on a hundred workers if it goes ahead
Decathlon final blow on the table of Spanish sports retail. The French multinational finalizes the acquisition of an important part of the business of Intersportwho was his rival in the Spanish market. The operation is part of the financial collapse of the subsidiary of the Swiss firmwhich was resolved with the liquidation of the group companies that grouped nearly 120 stores in Spain after declaring bankruptcy last March and not moving forward with its viability plan.
After the liquidation of the Iberian subsidiary last November, lntersport France assumed control of the purchasing center and integrated operations under a new hub for southern Europe, which unifies the markets of France, Belgium, Spain and Portugal. The rest of the business, made up mainly of the stores, was divided into a dozen geographic lots that, for the most part, have been left deserted and, therefore, are proceeding to liquidationaccording to knowledgeable sources Economic Information.
The same sources add that the offer presented by Decathlon is focused on the Canary Islands core of Intersport and covers a network of 14 stores and an outlet in Tenerife, two more in Fuerteventura and one on the peninsula located in the Catalan municipality of Puigcerdá (Girona). This network of establishments concentrates just over a hundred workers and represents close to half of the company’s workforce in Spain.
Since last December 31, The operation is already in an analysis phase by the National Markets and Competition Commission (CNMC)awaiting the resolution for the continuity of the process. The regulator’s website specifies that the acquisition led by Decathlon targets assets of Intersport CCS, one of the company’s three companies in Spain, along with Intersport SL and Intersport Retail One.
The operation is evaluated with the expectation that the regulator will authorize the file during the next month that it has the deadline and not opt for an in-depth examination, which would delay the process between three and four months. The analysis is due to the fact that the acquisition involves assuming control of a company with a significant market share, in accordance with article 8.1.a of the Competition Law.
If it obtains approval from the regulator, Decathlon, which currently has 176 stores in Spain, would reinforce its commitment to the national market with special emphasis on the Canary archipelagowhere it signed its sixth store last summer with the opening of a new store in the Tenerife municipality of Adeje, the third that the company has on the island. When asked about the scope of this operation, the company limits itself to reiterating the information notified to Competition.
On a financial level, the French chain recorded a profit of 71 million in its fiscal year 2024, 42% less than a year ago, after cutting its sales by 1.5% to 2,094 million. Spain was its second most relevant market, with a tenth of global revenue. Intersport, for its part, lost just under one million euros despite slightly increasing its turnover to 23.7 million, as recorded in the latest accounts deposited in the Commercial Registry, corresponding to 2023.
