Johannesburg - Holdsport, the owner of the Sportsman’s Warehouse and Outdoor Warehouse stores, yesterday said it had acquired a 100 percent interest in Second Skins, without disclosing the price of the deal.
Second Skins is a privately-owned South African manufacturer of swim, sun-protection, running and sportswear, uniforms and promotional clothing.
The company specialises in the production of customised performance-enhancing garments made from the latest technical fabrics for the retail trade, schools, sports clubs and corporations.
Holdsport said Second Skins was founded in 1986 by Brett Trollip, who would remain with Brian Keegan as the executive managers of the business.
“The purchase consideration falls below the threshold of a categorised transaction in terms of the listings requirements of the JSE and will be settled from cash reserves,” it said.
Last month, Holdsport reported its total sales increased by 11.8 percent to R1.73 billion in the year to February. Retail sales increased 12.4 percent to R1.68bn.
The group’s operating profit rose by 15.8 percent to R308.9 million and core headline earnings amounted to 548.7c a share, a 21.3 percent increase from the previous year.
Holdsport shares fell 1.22 percent yesterday to close at R59.78.
BUSINESS REPORT