The home shopping and education supplies specialist says the decision was made following a strategic review of the online sports retail business, which began in October 2014.
Findel executive chairman David Sugden said it was in the best interests of all stakeholders to continue Kitbag’s development as part of the group.
He added: “Kitbag has delivered a substantial recovery in its underlying operations and contract base after the renegotiation of legacy contracts and has started to capitalise on the significant international growth opportunities open to the business.
“As part of Findel, we are confident Kitbag will continue to build on the recovery to date.”
