Super Retail Group has expanded its existing retail portfolio with the acquisition of Rebel from Archer Capital for $610 million.
Rebel is Australia's number one sporting goods and apparel retailer with a market leading brand. The acquisition comprises 90 Rebel Sport stores, 36 Amart stores and 2 Performance Sports stores.
Peter Birtles, Super Retail CEO, said the acquisition is consistent with the company’s strategy of expanding into adjacent leisure retail businesses.
"The acquisition represents a fantastic opportunity for the Group to leverage its retail and supply expertise in a highly complementary business and to build Rebel's position as the national leader in sporting goods retailing," he said.
While remaining as a separate division known as Sports Retailing, Rebel has the potential to grow from 128 stores to a total of 185 stores over the medium term, across both the Rebel and Amart banners.
In addition, the group anticipates synergistic benefits will be realised through optimisation of the procurement, logistics, supply chain, marketing, IT and administrative functions.
"Both Super Retail and Rebel are focused on providing customers with a comprehensive product offering and excellent customer service, delivered by passionate team members," Birtles said.
The acquisition is currently expected to complete on 31 October 2011.