April 21, 2017 / 6:30 AM / 2 years ago

UK's Sports Direct enters U.S. with Bob's Stores/Mountain Sports deal

A company logo is seen outside a Sports Direct store in Vienna, Austria, April 28, 2016. REUTERS/Leonhard Foeger

LONDON (Reuters) - British retailer Sports Direct (SPD.L) has entered the United States market by buying 50 stores trading as Bob’s Stores and Eastern Mountain Sports for $101 million, it said on Friday.

The sportswear firm said on Thursday it had received the approval of the Delaware Bankruptcy Court to acquire certain assets of Eastern Outfitters, comprising the businesses of Bob’s Stores and Eastern Mountain Sports.

The acquired stores sell predominantly sports and casual wear, and outdoor and camping equipment and clothing.

“The acquisition is expected to complete in the first half of May 2017 and will provide Sports Direct with a footprint in U.S. bricks-and-mortar retail and a platform from which to grow U.S. on-line sales,” it said.

Reporting by James Davey, editing by David Evans

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