Sporting goods retailer SIGNA Sports United, owned by Austrian investor Rene Benko, is in talks to go public through a merger with a blank check company in a deal that could value the firm at up to $4 billion, two people familiar with the matter said.
SIGNA Sports United is working with several banks, including Citigroup Inc, on a potential transaction and is in preliminary talks with special purpose acquisition companies (SPAC), including Yucaipa Acquisition Corp, the people said.
SIGNA Sports United is also nearing a deal to buy Britain-based online sporting goods store Wiggle, which is owned by private equity firm Bridgepoint, the people said.
The company runs more than 80 web shops in 17 countries, reaching over 4 million customers a year. The group expects sales of about $1.6 billion in its current fiscal year to September, the people said, adding this could more than double over the next four years.
Reporting by Arno Schuetze, Christoph Steitz and Matthias Inverardi; Editing by Kirsti Knolle and Jonathan Oatis
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.