“Sports World and Smart Fit, adhering to the best information disclosure practices, will release more details in their respective markets as this process progresses,” Sports World said in the statement.
On April 13, Sports World and Smart Fit announced that they were evaluating their merger in Mexico. With this move, the chains would have more than 230 units in operation in various states of the country.
Fernando Guzmán, commercial director of Sport World, said in May to Expansion that the agreement was not closed and that the process became more extensive before the debut of Smart Fit on the Stock Market in Brazil.
“The due diligence It is a process that takes several weeks, but it continues to advance. In a few weeks, perhaps we will be able to take the step to the merger ”, he declared then.
For the manager, with this merger both companies gain in geographic expansion and a wide level of supply. “We are going to find many efficiencies and scalability of projects between the two companies. There are best practices that one chain does, and others that complement those that the other does. All this will lead us to a better performance ”, he pointed out.
Editor’s note: in a first version of this note, it was reported that Sports World had acquired 11% of Smart Fit.