JD Sports finalises the acquisition of Iberian Sports Retail Group
JD Sports has completed the acquisition of Iberian Sports Retail Group, after acquiring the remaining 49.98% of shares from Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. by JD.
Back in July, the company first announced it had signed a deal to acquire the shares it did not already hold in Iberian Sports Retail Group for €500 million (£427 million) as it continued its global expansion.
The British sports retail giant revealed in May that it was in talks about taking full control of the ISRG business, which operates more than 460 stores across Europe including JD Sports stores in Iberia, Sprinter in Spain, Sport Zone in Portugal and Aktiesport and Perry Sport in the Netherlands. ISRG also has a 98% holding in the Deporvillage online business and a 50.1% holding in the Bodytone fitness equipment business.
In the year to January 2023 ISRG reported sales of €1.24 billion (£1.06 billion) and profit before tax of €96.6 million (£82.5 million). In a statement to shareholders KD said it saw strong growth potential for the business and the expansion of the JD Sports brand across Europe.
The company commented: "We believe that there are opportunities to continue to develop Sprinter and Sport Zone and that the ISRG team in Iberia also have an important part to play in the further development of the JD fascia in Iberia and beyond."
