Eversheds guides Sports Direct´s €34m acquisition of six Toys ‘R’ Us stores
Eversheds Sutheland Nicea has advised British Sports Direct on its sale & leaseback acquisition of six retail stores from Toys ‘R’ Us in Spain for €34 million
British multinational Sports Direct has reached a strategic agreement with Toys ‘R’ Us by which it has acquired six commercial premises of the toy company in Spain for €34 million to relaunch its commercial commitment to Spain.
The agreement reached between both companies is materialised through a formula that is increasingly used in retail: ‘sale & leaseback’. Thus, the toy company becomes a tenant of these properties, sharing the space with the new owner in the shops located in Alcobendas (Madrid), Sant Boi (Barcelona), Granada, Valencia, Málaga and Pamplona.
This way, Sports Direct, which leads the sportswear segment in the United Kingdom, will implement in these new shops its new commercial concept, imported from the English market. The firm has more than 700 shops in Europe, three of them located in Spain (Torrejón de Ardoz, in Madrid, Zaragoza and Castellón), so this operation will mean its final landing in Spain.
Eversheds Sutherland Nicea advised Sports Direct with a Real Estate team led by partner Javier Ibáñez Gabernet (pictured), that included lawyers Raquel Badell, Andrés Ponce and Luis Pérez Casas.
