Decathlon signs letter of intent for 50% stake in Sport 2000 France

A letter of intent for Decathlon to acquire a 50% holding in SAS Sport 2000 France is in focus, with the proposed deal confined to French operations and financial terms not disclosed. Céraclès Coopérative, the cooperative parent formerly known as Groupe Sport 2000 France, signed the agreement as the two retailers explore how their store networks and specialist expertise could be combined to improve local service. Completion depends on consultation with employee representative bodies and regulatory approval.

The store arithmetic explains the gap Decathlon is moving to close. Mountain sports, covering snowsports and hiking equipment, account for around a quarter of Decathlon's revenue in France, yet the retailer operates only five stores in mountain areas. Céraclès runs 190 Sport 2000 stores in those same territories and 735 outlets in total across its various banners as of 2025. The cooperative has operated since 1966, and its franchise-based model would remain intact under the proposed arrangement, according to Decathlon.

Decathlon Europe chief business officer Jérémy Angelard told Reuters the company needs to grow its footprint on services as well as products, saying services represent a large part of the sports market the company is touching "but not at the speed that we want." The proposed stake would give Decathlon access to ski rental operations and the ability to distribute its products across Sport 2000 outlets in the French Alps and Pyrenees. Beyond Sport 2000 itself, a completed deal would open Decathlon to Céraclès' wider brand portfolio: Ekosport-Rent, Espace Montagne, Mondovélo, S2 Sneakers Specialist, Urban Soccer, and WAS We Are Select.

Céraclès framed the agreement around what it called complementarities between the two ecosystems, saying those complementarities can contribute to better serving athletes at all levels and to strengthening proximity with customers, clubs, and territories.

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Both companies described discussions as ongoing, with no financial terms attached to the letter of intent. Regulatory clearance and employee consultation are the remaining formal gates before any definitive agreement is reached. Angelard's comment on the services gap carries weight for a margins reader: mountain sports already represent roughly a quarter of Decathlon's French revenue with just five mountain stores in play. Access to 190 Sport 2000 mountain locations, if the deal closes, would materially reshape that exposure.