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In line with its 2020 strategic plan, ABEO, a designer of sports and leisure equipment, today announces its acquisition of a 60% majority stake in Erhard Sport together with the company's management team. Via a recognised domestic brand, this transaction gives ABEO access to Germany's entire sports equipment market, in which ABEO has hitherto held a limited foothold.
Based in the Berlin region, Erhard Sport GmbH has 9 employees and currently posts revenue of around €1.5 million per year, mainly generated from designing specialised sports centres. As a result of its takeover in 2015 by two former executives, Frank and Mario Janzen, the company also acquired the Erhard Sport brand, a long-standing household name in Germany, founded in 1880 and a pioneer in the sports equipment market.
The German sports equipment market is the largest market of its kind in Europe. ABEO presently operates in Germany only in a niche market in which it is the leading equipment supplier of gymnastics competitions, via its Spieth Gymnastics brand. Thanks to the acquisition of Erhard Sport, ABEO will be able to serve the entire German sports equipment market (gymnastics, physical education, team sports) and will benefit from Erhard Sport's expertise in gym and sports centre design. The Group believes that this acquisition will enable it to significantly step up its growth in the German market.
Tuesday 6 December 2016 after close of trading H1 2016/2017 results
Find out more at www.abeo-bourse.com
ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted turnover of €148 million for the year ended 31 March 2016, 66% of which was generated outside France, and has around 1,000 employees.
ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc.
ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and locker room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games.
ABEO (ISIN code: FR0011950682, ABEO) is listed on Euronext Paris – Compartment C.
For any questions relating to this press release or the ABEO Group, please contact:
ACTUS finance & communication
Investor relations – France Bentin [email protected] Tel: +33 (0)4 72 18 04 94
Press relations – Serena Boni [email protected] Tel: +33 (0)4 72 18 04 92