Hervis, one of the best-known sports goods retailers, is selling its Hungarian and Romanian subsidiaries, hirado.hu reported.
The Austria-based Hervis Sport- und Modegesellschaft, owned by Spar Austria, announced on Tuesday that the stores and employees will be taken over by the British Frasers Group.
After obtaining antitrust approvals, the British company will take over Hervis Hungary (Hervis Sport és Divatkereskedelmi Kft.) with its 29 stores.
In addition, they will also take over Hervis Romania (Hervis Sport and Fashion srl.) with its 49 stores.
The Frasers Group also confirmed in a statement that it will take over the stores and employees. The purchase price paid for the Hungarian and Romanian interests has not yet been disclosed.
Fact
Last year, the Hervis Group achieved gross sales of more than €490 million with its 227 stores in Austria, Slovenia, Hungary, Croatia, and Romania, but its balance sheet remained in the red: in the 2024 financial year, it had a deficit of €43 million.
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Via hirado.hu; Featured image: Photo: Pexels
The post British Group Acquires Hervis’s Hungarian and Romanian Operations appeared first on Hungary Today.
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