The track record of Intersport France and Belgium’s new managing director, Philippe Giovanni, a specialist in consolidating distribution networks, suggested potential external growth moves. The cooperative is now significantly expanding its network, marking not the absorption of a brand in France but a geographical expansion.

In a press release on November 3, the French cooperative announced that it had been “entrusted by ICC with the responsibility of overseeing Spain and Portugal, by structuring a Southern European hub which will bring together France, Belgium, Spain and Portugal.”

For several months, questions surrounded the future of Intersport’s Iberian operations. The group had applied earlier this year for court protection after facing challenges repaying its debt. This entity comprised 130 companies operating Intersport-branded stores and employed more than 130 people. It had been seeking buyers for several months, with Spanish media estimating a potential purchase price of around €300 million ($323 million).

“This new step marks the recognition of the know-how of our French cooperative and of our ability to build a strong collective dynamic,” said Gérard Leclerc, now president of Intersport France, Spain, Portugal & Belgium. “By structuring a Southern European hub, we are affirming our ambition to make Intersport a benchmark player in a strategic area of the European sports market.”

Intersport France and Belgium did not disclose the transaction amount. For the entity based in Longjumeau, in the Paris region, the move “is in line with the transformations we have carried out together in recent years: the acquisition of Go Sport, the modernization of our store network and the launch of our new brand platform.”

The company plans to “build on the know-how, performance and robustness of the French model” and is creating an Iberian subsidiary, while Intersport France takes over the Spanish central office and its staff.

Intersport France and Belgium report revenue of €3.88 billion ($4.18 billion) and hold a market share of more than 14%.