Abu Dhabi – Mubasher: Gulf Capital, one of the largest and most active alternative investment firms in the Middle East, announced on Monday that it has acquired a controlling stake in Sporter.com, the leading online retailer of sports and nutrition supplements in the GCC.
Digital economy is distinguished by its fast growth pace; sports and nutrition supplement s grow 20% annually in the GCC, to double its global average growth of 8.5%, according to a press release.
"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," Gulf Capital said.
The investment firm expected the sports nutrition industry to grow to $52.5 billion in global sales by 2020, from $ 30 billion in 2013.
Gulf Capital manages over AED 14.7 billion ($4 billion) of assets across 10 funds and investment vehicles, investing across several asset classes including private equity, private debt and real estate, the statement said.
