Frasers Group, the empire controlled by Mike Ashley, is to expand into Malta and Africa after acquiring a “significant non-controlling” stake in a retail and distribution business.
The London-listed group has invested in Hudson Malta, which has operations across 36 African countries.
The owner of Sports Direct and House of Fraser said the deal reflects its “continued commitment to expanding its international footprint”.
As a result of the investment, Sports Direct and USC will launch in Malta, with a first store set to open in 2024. Sports Direct will also expand across North West Africa.
Michael Murray, CEO of Frasers Group, said: “We are very pleased to be collaborating with Hudson.
“International expansion is a crucial element of our elevation strategy, and this announcement aligns with our growth ambitions and provides a gateway to further strengthen our presence in EMEA.
“We’re looking forward to unlocking new opportunities in the region and leveraging our mutual strengths to bring the Frasers brand ecosystem to new consumers in new markets and elevate their retail experiences.”
Chris Muscat, CEO of Hudson, added: “We are thrilled to announce that, subject to certain conditions being met, Frasers Group has agreed to join forces with Hudson on our journey.
“This investment will enable us to accelerate our growth in Southern Europe and Africa, regions that are also key to Frasers Group’s expansion strategy.
“With our extensive experience in Africa, combined with Frasers’ exceptional retail expertise, strong brand portfolio, and focus on innovation and efficiency, Hudson will be well-positioned to expand its existing business and unlock new opportunities.”