Business news : Runners Point is for sale
Hannover Finanz says it wants to cash out of Runners Point, reselling the 75 percent stake that it acquired in 2005 in this big German sporting goods retail chain from the former Karstadt Quelle group. The German private equity firm has asked Deloitte to find new investors for the company. Runners Point’s two joint managing directors, Otto Hurler and Harald Wittig, are expected to remain involved in the operation. Each of them retained a 12.5 percent stake at the time of the management buyout. Since then, Runners Point’s annual sales have progressed from €96 million to the 2011 level of €124 million. The retailer added an online shop last year to its 200-odd physical stores.
(by on Jul 13, 2012 trough Ispo news blog)