French sports retailer Decathlon has sold 90 of its stores- including some in Spain- for a massive 600 million euros
Decathlon has announced the sale of 90 stores in Europe for a sum close to 600 million euros, although it still retains around 40% of the real estate value of the assets.
This was reported by the French newspaper Les Echos, which indicates that the buyer is the American company Realty Income, specialised in acquiring properties of this kind to lease them for the long term to their occupants.
One-third of the stores included in the operation, which was advised by the law firm Eversheds Sutherland, are located in France, while the rest are spread across Spain, Germany, Italy, and Portugal. In total, the assets involved in the operation amount to approximately 400,000 square meters.
From the sports retailer, they ensure that the activity of the sold establishments in Spain will not be affected by the operation. “It has no impact on the activities of Decathlon’s stores and jobs. These are stores that currently exist and will continue their activity as usual,” said a spokesperson for the firm.
Belonging to the Mulliez group, Decathlon is present in nearly 70 countries, with more than 1,700 stores worldwide. It opened its first establishment in Spain in 1992 and currently has over 11,000 collaborators and more than 170 stores. In 2022, it generated revenue of 2,106 million euros (including VAT), a 3.5% increase compared to the previous year, reaching a net profit of 100 million euros.
