position1
search-field
center-right-menu

Press

Gulf Capital Acquires a Controlling Stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC

Gulf Capital Acquires a Controlling Stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC
November 14, 2016

Sports and nutrition supplements market in the GCC growing at 20% per annum, faster than the global average of 8.5%

Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, announced today that it has acquired a controlling stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC, operating in a rapidly growing sector of the digital economy. Sporter.com's operations are located in state- of-the-art facilities across multiple countries, which allows the company to provide a convenient, timely and price-effective service to customers in the Arab region.

Sporter.com's offering comprises some of the top global nutrition brands including Optimum Nutrition, BSN, Muscletech, Cellucor, Dymatize, Quest Bars, and Russian Bear, amongst others. The company is benefiting from the general surge of online shopping in the Middle East, particularly when it comes to buying sports and nutrition supplements online. Today, the share of online sales of sports and nutrition products in the GCC stands at 7% of the total market. It is expected to grow to 20% of the total supplements' sales in the next five years, in line with the levels in the United States.

Dr. Karim El Solh, Chief Executive Officer of Gulf Capital said: "The strategic investment in Sporter.com is an exciting one for Gulf Capital as it offers our investors exposure to both the rapidly growing digital economy and the booming sports nutrition sector in the GCC. The E-Commerce space in the Middle East is growing rapidlyat an estimated five-year CAGR of 21+%. Sporter.com has the lion's share of online sales of nutrition supplements in the GCC and gives us an unparalleled exposure to the booming ecommerce and the health and supplements sectors in the region. We look forward to working with the Sporter.com management team and to helping themcement and grow their position as the leading online destination for health and nutrition supplements".

The sports nutrition industry is expected to grow to US$52.5 billion in global sales by 2020, from US$ 30 billion in 2013. This trend is reflected in the region with annual growth expected to accelerate from its current 8.5% to an expected above-global-average of 20%. Drivers of this expansion include demographics, rapid urbanisation, high online connectivity, high disposable income, growing health awareness among consumers, and introduction of new ingredients in sports nutrition products and a growing trend for adopting a healthier lifestyle. According to a recent research published in the Gulf Medical Journal, around 40% of gym members in the UAE are also supplement users.

Abdullah Shahin, Managing Director, Private Equity at Gulf Capital, concluded: "We see significant potential in the sports nutrition market in the GCC and MENA region. The GCC market is expected to grow at over 20% per annum over the next five years outpacing the global markets. We are excited to further expand our portfolio of technology-driven businesses. We look forward to working with Sporter.com to capitalise on the market potential, to enter new markets and to establish the company as the leading player in the online retail of sports nutrition in the region".

Ernst & Young acted as financial and tax advisor, while Gibson, Dunn & Crutcher acted as legal advisors to Gulf Capital on the transaction. Capital Bank Corporate Advisory (DIFC) Ltd. acted as financial advisors and Eversheds LLP acted as legal advisors to the sellers.

Download Press Release in Arabic

 
 
 
 
 

Fraud Alert

Fraud Alert - Important alert to Gulf Capital Investors,Shareholders, the Financial Services Community and the Public

Fraudsters are engaging in a fraudulent email and website scams whereby websites and communications are targeting members of the public and potential investors (victims) by fraudulently using the identity of legitimate members of Gulf Capital's Executive team or Gulf Capital's Board of Directors to solicit investments, fake job offers and other dealings, without authority, and for a malicious purpose. Neither Gulf Capital's Chief Executive Officer nor any members of its Board of Directors or other members of its Executive team have made any offers for investment partnership, offers of employment or other dealings through these channels and the names, and identities of such individuals are being used illegally and without their consent.

Gulf Capital and its management have taken and will continue to take legal action against anyone found misusing Gulf Capital's name or the names or identities of any members of the Board of Directors of Gulf Capital or Gulf Capital's Executive team illegally or without consent for whatever reason.

Report Scams

We invite you to immediately contact fraud-detection@gulfcapital.com* if any of the following occur:

  1. You have received any unsolicited correspondence or investment advice or you think you have been contacted in relation to a possible scam (whether by telephone, email or courier) by sources fraudulently impersonating Gulf Capital's Board of Directors or any members of Gulf Capital's Executive team.
  2. You have received notice from anyone outside of Gulf Capital informing you or raising concern regarding the fact that they may have been contacted by any sources fraudulently impersonating Gulf Capital's Board of Directors or any members of Gulf Capital's Executive team.
  3. You have received any communications referencing any of Gulf Capital's Board of Directors that you consider are suspicious or which you are not sure how to respond to.
  4. You have any concerns about the authenticity of any website passing itself off as a website operated by Gulf Capital or referencing the names and identities of the Board of Directors of Gulf Capital or any of its Executive team without authority.
*Note: When forwarding suspicious e-mails to fraud-detection@gulfcapital.com:
  1. Do not modify the original subject line or contents enclosed, and do not include any personal or confidential information.
  2. Forward the full internet headers of any suspicious emails to fraud-detection@gulfcapital.com before deleting as this information willhelp Gulf Capital to track the true origin of the correspondence. The internet headers can be found through your e-mail system from within the e-mail. For example, in Microsoft Outlook, you can find the internet headers by opening the e-mail, then choosing "View" and "Options". Depending on the e-mail system that you use, the process for locating the internet headers will vary. We recommend you either copy and paste the internet header and message into a new e-mail or scan the e-mail and full headers and send as a PDF attachment to ensure it is received by fraud-detection@gulfcapital.com.

Protect Yourself

  1. We recommend that you avoid getting into a conversation with any fraudsters or revealingany personal or identifying information, but you should endeavor to record thepurported name of the person and organisation along with any other information they give you (e.g., telephone number, address etc.) and then forward all such information to fraud-detection@gulfcapital.com.
  2. You should obtain independent legal and financial and professional advice before handing over any funds or entering into any agreements in relation to such solicitations.
  3. We recommend that you not respond or open any attachments or links associated with any suspicious e-mails.
Copyright © 2017 Gulf Capital Pvt. JSC. All rights reserved.