By Staff writer
Investor takes control of sports and nutrition supplements website Sporter.com
Investment house Gulf Capital has bought a controlling stake in UAE-based Sporter.com, an online sports and nutrition supplements retailer, for an undisclosed sum.
Sporter.com’s GCC operations are headquartered in Dubai, with warehousing in Dubai Investments Park, and offices in Saudi Arabia and Kuwait, its website says.
It sells a series of nutrition brands, including Optimum Nutrition, BSN, Muscletech, Cellucor, Dymatize, Quest Bars, and Russian Bear, amongst others.
In a statement, Gulf Capital said the firm was set to benefit from the general growth in e-commerce in the region, alongside a projected steeper rise for nutritional and sports supplements. It also said that Sporter.com had “the lion’s share” of online nutrition supplements sales in the Gulf.
“Today, the share of online sales of sports and nutrition products in the GCC stands at 7 percent of the total market,” the statement said. “It is expected to grow to 20 percent of the total supplements’ sales in the next five years, in line with the levels in the United States.”
The statement said that the regional sports nutrition industry was expected to see accelerated annual growth from 8.5 percent to 20 percent in the near future.
its interesting that all are press releases. but no details!
(maybe they took a loan and could not pay back from gulf capital)