LONDON: Frasers Group plc has agreed to sell its entire stake in Sports Direct Malaysia to long-standing strategic partner MAP Active (PT MAP Aktif Adiperkasa Tbk), in a deal worth approximately US$150 million.
The sale, which remains subject to final completion adjustments, marks the latest step in Frasers Group’s push to consolidate its footprint across Southeast Asia through trusted regional partners, a statement said.
As part of the agreement, Frasers will also enter into a long-term arrangement with MAP Active to continue growing and developing the Sports Direct brand in Malaysia — with an ongoing income stream flowing back to Frasers Group.
Building on an Existing Regional Partnership
The transaction extends a relationship that already spans Indonesia, the Philippines, Thailand, Vietnam and Cambodia, where MAP Active operates Sports Direct on Frasers Group’s behalf. Bringing Malaysia into the fold is designed to streamline operations and unlock efficiencies across the wider region, aligning with Frasers Group’s broader Southeast Asian strategy.
MAP Active’s established local infrastructure, market expertise and existing portfolio of distributed brands are expected to accelerate Sports Direct’s expansion in Malaysia. The two companies share an ambition to grow the network to more than 350 stores in the long term, ultimately reaching over 600 million consumers across the region with what they describe as the world’s best sport and lifestyle brands.
Executive Commentary
Michael Murray, CEO of Frasers Group, welcomed the deal as a deepening of an already valuable relationship:
“MAP Active is a valued strategic partner, and this transaction further deepens our relationship as we accelerate Sports Direct’s growth across Southeast Asia. Together, we are creating a strong platform to deliver our ambitious growth plans. I look forward to continuing to work with the MAP Active team to unlock further value.”
V.P. Sharma, Group CEO of PT Mitra Adiperkasa Tbk, echoed the sentiment, pointing to the strength of MAP Active’s regional network:
“We are delighted to be strengthening our relationships with Frasers Group through this transaction. Leveraging on our local expertise and regional retail network, we look forward to offering more of Sports Direct’s world-class offerings to our customers across the region — and unlocking new opportunities that create long-term value for both companies.”
What It Means Going Forward
The deal underscores Frasers Group’s continued strategy of partnering with established local operators to drive international growth rather than managing every market directly. By handing the reins of Sports Direct Malaysia to MAP Active while retaining an ongoing revenue share, Frasers appears to be positioning for sustainable, capital-light expansion across Southeast Asia — a region it clearly views as central to its long-term growth ambitions.
