Advising Online Sports Apparel Retailer Fanatics
16 Feb 2016
International law firm Simmons & Simmons has advised US-based $3.1bn sports apparel retailer, Fanatics, on its £11.55m acquisition of sports apparel retailer, Kitbag, from London Stock Exchange listed online retailer Findel.
Fanatics powers the merchandising websites of every major sports league in the US and, with the acquisition of Manchester-based Kitbag, has opened up new territories and markets and is well positioned for further growth.
Kitbag operates a similar but more European-focused business and has partner agreements with an extensive list of international football club sides including Real Madrid, Manchester United and Celtic, along with iconic global brands such as Formula One, Le Tour De France and Wimbledon.
Simmons & Simmons advised on a range of specialist aspects of the transaction, including real estate, tax, competition, employment and pensions matters as well as significant e-commerce and IP-related aspects surrounding Kitbag’s contractual arrangements with its wide-ranging catalogue of sports brands.
Commenting on the transaction, lead partner, Arthur Stewart said: “This was an exciting and challenging transaction, completed on an accelerated timetable, involving multiple specialists from across the firm advising Fanatics as they take this significant step into new markets across Europe.”
The Simmons & Simmons team was led by Arthur Stewart and Danielle Di Pietro, assisted by Annabel Stark (Corporate), Angus McLean and James Agnew (Intellectual Property), Lawrence Brown and Charlotte Reeson (Information, Communications & Technology), Charles Bankes and Shachi Nathdwarawala (Competition) and Darren Oswick and Zoe Arnautov (Tax).
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