Decathlon set to buy 50% of Sport 2000 France to expand ski resort presence

LONDON, Aug 31 : Decathlon has signed a letter of intent to buy 50 per cent of Sport 2000 France, owned by sports retail group Céraclès Coopérative, in a deal that would expand its presence in French ski resorts, the two companies said on Tuesday.Ceracles' Sport 2000 stores would remain independently operated under a franchise model, but the deal would enable Decathlon to enter the ski rental market and make its products available in the retailer's network of stores in the French Alps and Pyrenees, said Jérémy Angelard, Decathlon's chief business officer for Europe."We have to continue to grow and to improve our footprint on products but also on services, because that's a huge part of the sports market that we are touching, but not at the speed that we want," Angelard said in an interview.