REG - JD Sports Fashion - COMPLETION OF THE ACQUISITION OF COURIR

JD Sports FashionAnnouncement

27/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241127:nRSa7192Na&default-theme=true

RNS Number : 7192N  JD Sports Fashion PLC  27 November 2024

27 November 2024

JD SPORTS FASHION PLC

COMPLETION OF THE ACQUISITION OF COURIR

 

Further to the announcement on 9 May 2023, JD Sports Fashion Plc ('JD' or the
'Group') announces the completion of its acquisition of Groupe Courir S.A.S
("Courir") today, following receipt of conditional clearance from the European
Commission on 22 October 2024 and the satisfaction of all other outstanding
conditions.

Régis Schultz, CEO of JD Sports Fashion Plc, said: "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."

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 has 323 stores currently, bannered as Courir across France, Spain, Belgium,
the Netherlands, Portugal and Luxembourg. In addition, there are a further 36
stores which trade under franchise agreements as Courir in North West Africa,
Middle East and French overseas territories. Further, there are three stores
which trade as Naked, an elevated concept for women's sneakers.

In accordance with the European Commission's conditional clearance decision,
15 of Courir's stores in France and all of Courir's six stores in Portugal
will be divested to Snipes during Q1 FY26. In accordance with Commitments
given to the European Commission, these stores will continue to be operated
under the Courir banner until divested to Snipes.

The acquisition price is €520m, paid through a combination of existing cash
and a drawdown on our revolving credit facility. In the year to 31 December
2023, Courir reported revenue of €725.8m and profit before interest and tax
of €50.3m.

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.
 

*Circana 2024 © All rights reserved

 

Enquiries:

JD Sports Fashion Plc
 
                  Tel: 0161 767 1000

Régis Schultz, Chief Executive Officer

Dominic Platt, Chief Financial Officer

Mark Blythman, Director of Investor Relations

 

Advisors

Bank of America - Antonia Rowan
 
           Tel: 0207 628 1000

Peel Hunt LLP - Dan Webster
 
             Tel: 0207 418 8869

FGS Global - Rollo Head, Jenny Davey, James Thompson
                                      Tel: 0207 251 3801

 

About JD Sports Fashion Plc

Founded in 1981, the JD Group ('JD') is a leading global omnichannel retailer
of Sports Fashion brands. JD provides customers with the latest sports fashion
through working with established and new brands to deliver products that our
customers most want, across both footwear and apparel. The vision of JD is to
inspire the emerging generation of consumers through a connection to the
universal culture of sport, music and fashion. JD focuses on four strategic
pillars: JD Brand First, first priority, first in the world; leveraging
Complementary Concepts to support JD Group global expansion; moving Beyond
Physical Retail by building the right infrastructure and creating a lifestyle
ecosystem of relevant products and services; and doing the best for its
People, Partners and Communities. JD is a constituent of the FTSE 100 index
and had 4,541 stores worldwide at 2 November 2024.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQKZMZMMVLGDZM