JD Sports acquires menswear retailer Wellgosh
JD Sports has acquired independent menswear Wellgosh, adding to its stable of retail brands.
Peter Turner founded the Leicester-based business 30 years ago in a small store in Leicester’s Silver Arcade. The company expanded and relocated to larger premises in 1998.
According to information listed on Companies House, the retail group first became involved in the business in September 2020, with the appointment of JD Sports CEO Peter Cowgill as a director.
In December 2020, JD Sports also added US footwear retailer Shoe Palace to its list of brands after completing a takeover deal worth £240 million.
The sportswear retailer confirmed that its existing wholly-owned holding company in the US, Genesis Holdings, acquired 100% of the issued shares in the Shoe Palace Corporation.
JD said the deal was being funded through its existing cash reserves and bank facilities.
TheIndustry.fashion has contacted JD Sports for comment.