French Tycoon Michel Ohayon Acquires Go Sport for €1 in Approved Deal

Good news for the native of Casablanca. According to a press release dated July 15, the Competition Authority has authorized the "unconditional" takeover by businessman Michel Ohayon, through his FIB fund, of the Go Sport brand for a symbolic 1 euro. "Given the positions held by the parties on the markets concerned by the operation," it "is not likely to harm competition," the authority said.

The takeover is the result of negotiations started on February 10, 2021 between Michel Ohayon’s Financière immobilière bordelaise (FIB) and Go Sport’s parent company. Created in 1978, the sports goods retail chain was bought in 1990 by Rallye, the heavily indebted parent company of the Casino retail chain, according to AFP.

In 2019, Go Sport achieved a turnover of 625 million euros. It has around 2,000 employees. In addition to France, the brand has 45 stores, notably in Qatar, Oman, Morocco and Jordan.