Signa Sports’ Internetstores Takes Over Probikeshop
ESSLINGEN, Germany – One of Europe’s leading bicycle and outdoor e-commerce company’s Internetstores Holding GmbH (owned by Signa Sports ) has taken over the French online platform Probikeshop. According to Probikeshop the company is “With seven webshops in Belgium France, Germany, Italy, Portugal, Spain and Switzerland the leading online cycling products seller in France and Southern Europe.”
Internetstores GmbH that markets the brands Addnature, Bikster, Brügelmann, Campz and Fahrrad.de is since the end of 2016 owned by Signa Retail. This is a Austria based retail giant operating the KaDeWE Group, Karstadt Sports, Karstadt Warenhaus GmnH, Outfitter.de, Dree.for less and Signa Sports. Financial terms of the deal were not disclosed.
Leading in Europe
With the Probikeshop takeover German Internetstores becomes, as the company states, “the leading bicycle and outdoor online platform in continental Europe operating 35 webshops in 12 languages in 14 countries.”
Probikeshop (employing 170 people) was owned by Switzerland’s largest retailer Migros and Olivier Rochon. Migros owned 51% of the Probikeshop shares and Probikeshop’s founder Rochon the remaining 49%.
Despite the takeover Rochon remains Probikeshop’s CEO and becomes a shareholder in Internetstores.
Swiss Migros focuses on home market
Last month Migros – among others the parent company of the Swiss sporting good chain Sport XX and Swiss e-mobility chain M-Way – opened its first bicycle store under the name Bike World. With Migros selling its Probikeshop shares to Internetstores the company claims to present the French online platform the chance to grow in Europe, stating, “At the present time the European cycling trade finds itself in a consolidation phase. We are confident that Internetstores – backed by a lot of knowhow – ensures Probikeshop’s further growth.”
In 2011 Migros acquired a majority shareholding in Probikeshop. Since then sales multiplied from € 10 million to nearly € 70 million. For Migros the Probikeshop sale means a further concentration on its home market Switzerland.
Signa Sports Group commented on the Internestores’ Probikeshop takeover with “the continuation of our strategy profitable growth within the European multichannel sports and bicycle trade world.”
Internetstores founder and chairman René Köhler said “the unique start-up culture you’ll find in all Signa Sports Group divisions will sustainably accelerate growth, dynamic and innovation power within the group.”
Internetstores CEO Markus Winter stated “Over the last ten years Probikeshop was able to reach a community of more than one million cycling enthusiasts in Southern-Europe and France. Our two companies complement each other at its best!“
The takeover is subject to approval by the relevant antitrust authorities.