Printed
November 27, 2024
JD Sports activities Vogue has accomplished the acquisition of Paris-based sportswear retailer Groupe Courir to strengthen its positions on the European mainland, and particularly in France.
DR
The completion follows “conditional clearance from the European Commission and satisfaction of all other outstanding conditions”.
First introduced in Might 2023, the value of €520 million (£434 million) is being paid to proprietor funding agency Equistone Companions Europe by means of a mixture of present money and a drawdown on JD’s revolving credit score facility.
Within the yr to 31 December 2023, Courir reported income of €725.8 million and revenue earlier than curiosity and tax of €50.3m.
JD CEO Régis Schultz mentioned: “The completion of our acquisition of Courir is an exciting milestone for our Complementary Concepts strategy in Europe and we look forward to working with its experienced management team as we deliver on our growth plans.
“This acquisition will broaden the JD Group’s customer reach adding a more female, fashion-conscious and older customer base to complement the group’s core customers.”
He added: “We welcome Courir management into the group and we look forward to working with Pierre Chambaudrie and his team to develop Courir further in Europe.”
JD Sports activities mentioned Courir “is a market leader in sneakers in France, which is the largest sneaker market in Europe, and this acquisition reinforces our position within Europe”.
It operates 323 shops, bannered as Courir throughout France, Spain, Belgium, the Netherlands, Portugal and Luxembourg. As well as, there are an additional 36 shops that commerce underneath franchise agreements as Courir in North West Africa, Center East and French abroad territories. Additional, there are three shops that commerce as Bare, an elevated idea for girls’s sneakers.
In accordance with the European Fee’s conditional clearance choice, 15 of Courir’s shops in France and all six shops in Portugal will probably be divested to Snipes throughout Q1 FY26. These shops will proceed to be operated underneath the Courir banner till divested.
Earlier this yr, JD mentioned it might spend as much as £3 billion to open as many as 1,750 shops over 5 years, as Schultz outlined his plans for the retailer to grow to be an athletic leisurewear “powerhouse”.
JD at present trades from over 3,400 shops throughout 32 territories, together with Britain, France, Germany, the US and Australia.
