NEWS & MEDIA > Holdsport Announces Intention To List On The JSE

Johannesburg, 13 Jun 2011

Holdsport investment highlights:

  • national store network under Sportsmans Warehouse and Outdoor Warehouse retail chains
  • proven track record of consistent turnover and operating profit growth
  • experienced, established senior management team with an average of 16 years experience in the retail industry
  • a strong market position in an attractive, burgeoning sector

Holdsport announces intention to list

Holdsport Limited ("Holdsport") is delighted to announce its intention to list on the JSE Limited ("JSE") during the second half of 2011. The leading South African sporting, leisure and recreational goods retailer has applied to list its shares on the main board of the JSE. A pre-listing statement including full details of the offer will be published in due course.

The listing will be open to eligible investors only. UBS has been appointed as adviser and sole bookrunner for the offer.

Holdsport, with turnover of around R1,1 billion and strong cash flows, is the leading nationwide retailer of specialist sports and outdoor apparel and equipment. Through a network of 33 Sportmans Warehouse and 18 Outdoor Warehouse stores, in prime locations, Holdsport provides local and international brands to a broad customer base from sporting beginners to veterans. Holdsport also has an investment in First Ascent, an independently managed business which supplies technical apparel to the sporting goods industry.

Holdsport's history dates back to 1986 when the first Sportmans Warehouse was opened in Rondebsoch, Western Cape. Holdsport has since grown to 51 stores in South Africa and one Sportmans Warehouse in Windhoek, Namibia.

Holdsport's Chairman, Syd Muller, says of the listing: "The move from a private enterprise to a JSE listing is an exciting milestone. Holdsport is a differentiated business in a market that is set to see a significant level of growth in the short to medium term as demonstrated by the increase in consumer confidence and South Africans' love of sport, exercise and outdoor lifestyle. Holdsport has a number of exciting initiatives to drive its future growth and take advantage of the opportunities in this market."

Kevin Hodgson, CEO of Holdsport adds: "Holdsport is the only national, authentic retailer of sporting and outdoor goods in South Africa. Our dynamic retail environment is dedicated to the active sporting and outdoor enthusiast and provides customers with quality branded merchandise at competitive prices. This listing will provide access to capital for continued growth and enhance our position in the sporting and outdoor goods market."

The proposed listing will see the majority of the private placement coming from Ethos Private Equity Fund V, selling shares it acquired in a buyout during September 2006. Ngalaah Chuphi, Partner at Ethos Private Equity said: "We invested in Holdsport five years ago in keeping with our strategy of partnering strong management teams to unlock and create value. Ethos is proud to have supported the company's growth since our investment in 2006. The proposed listing will provide institutional shareholders with the opportunity to invest in this unique, impressive company."

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