Gulf Capital Acquires a Controlling Stake in Sporter.com
- M&A Deals
- 14.11.2016 07:00 am
Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, announced today that it has acquired a controlling stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC, operating in a rapidly growing sector of the digital economy. Sporter.com’soperations are located in state- of-the-art facilities across multiple countries, which allows the company to provide a convenient, timely and price-effective service to customers in the Arab region.
Sporter.com’s offering comprises some of the top global nutrition brands including Optimum Nutrition, BSN, Muscletech, Cellucor, Dymatize, Quest Bars, and Russian Bear, amongst others. The company is benefiting from the general surge of online shopping in the Middle East, particularly when it comes to buying sports and nutrition supplements online. Today, the share of online sales of sports and nutrition products in the GCC stands at 7% of the total market. It is expected to grow to 20% of the total supplements’ sales in the next five years, in line with the levels in the United States.
Dr. Karim El Solh, Chief Executive Officer of Gulf Capital said: “The strategic investment in Sporter.com is an exciting one for Gulf Capital as it offers our investors exposure to both the rapidly growing digital economy and the booming sports nutrition sector in the GCC. The E-Commerce space in the Middle East is growing rapidlyat an estimated five-year CAGR of 21+%. Sporter.comhas the lion’s share of online sales of nutrition supplements in the GCC and gives us an unparalleled exposure to the booming ecommerce and the health and supplements sectors in the region. We look forward to working with theSporter.com management team and to helping themcement and grow their position as the leading online destination for health and nutrition supplements".