Team Sportia and Sportia merges.
Finnish SGN Group acquires a majority stake in Swedish TeamSportia AB, creating a Nordic sports chain group with Team Sportia’s 105 Swedish stores and SGN’s own retail chain, Sportia, with 56 stores in Finland. Totally TeamSportia and SGN Sportia becomes a Swedish-Finnish operator with over 3 billion SEK in sales.
In TeamSportia Sweden’s and Finnish Sportia’s history can be found more similarities than just the name. The collaboration between the chains has included own brand purchases.
”TeamSportia and Sportia has the same corporate culture, the same core product categories, and the same model. With this transaction, we will get fast synergies in storage, transportation, Far East, and the purchase of marketing, said TeamSportia CEO Anders Edvardsson.
”Sporting Goods has for long been a growing industry with competitive situation that has changed in Finland and the Nordic countries. There is a need to build a more efficient and competitive organisation that do more. This deal makes us an important partner for our suppliers, says SGN CEO Sam Nieminen.
This also gives Sportia an opportunity to expand its portfolio of TeamSportia’s own brands as well as take advantage of TeamSportia’s advanced management tool chain.
SGN Group is a family owned group and through its subsidiaries SGN Sportia one of the leading players in the sports and leisure equipment. By merging with TeamSportia becomes SGN Group the new principal owner of the Swedish-Finnish sports group.
”With the merger with SGN Sportia we get a strong, long-term principal owner of TeamSportia. We are already the largest in Sweden in the bicycle category and well established in our other focus categories of running, training, cross country skiing, soccer and active leisure. The merger will create new favorable opportunities for our key suppliers and partners,” says Tanja Ilic, outgoing Chairman, TeamSportia.
Last year, Team Sportia was forced into administration and reconstructed,
”Our investments are based on a strong belief in entrepreneurship and sustainability. TeamSportia is today a well known brand and a merger will both create great synergies for retail and on a group-level as well as strengthen our common position as sports chain. We are confident that the merger will strengthen both parties’ long-term business opportunities,” says Sam G. Nieminen, CEO of SGN Group.
In connection with the change of ownership also appointed Anders Edvardsson to regular CEO of TeamSportia. Anders Edvardsson has until now been the company’s acting president.
”Together, we are now a leading player in sports or leisure equipment where we are able to realize many of our exciting plans, says Anders Edvardsson, MD, TeamSportia.
New Board for TeamSportia: Sam Nieminen, President and members are Stefan Nieminen, Pekka Pättiniemi, Ronny Keskitalo and Fredrik Persson.
SGN Group also has wholesale business for both international and own brands in sports and leisure equipment. The group has its headquarters outside Helsinki and had sales in 2013 corresponding to more than 1.6 billion SEK with good profitability.