REG - JD Sports Fashion - Marketing Investment Group SA minority acquisition

JD Sports FashionAnnouncement

08/08/2023 13:00

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RNS Number : 6570I  JD Sports Fashion Plc  08 August 2023

8 August 2023

 

JD Sports Fashion Plc

 

Marketing Investment Group S.A. - minority acquisition

 

JD Sports Fashion Plc ('JD' or the 'Group') today announces that it has
exercised its rights under a call option and entered into a conditional
agreement to acquire the outstanding 40% minority stake of Marketing
Investment Group S.A. ('MIG' or 'Company') from its minority shareholders and
will become the 100% sole owner of MIG.

 

JD originally acquired a 60% stake in Poland-based MIG in April 2021, and
since then has established the JD fascia in five countries across Central and
Eastern Europe operating 18 JD stores. MIG also continues to trade profitably
through Sizeer and other complementary fascias, selling a wide range of sports
footwear, apparel and equipment from leading global brands. In the year ended
31 January 2023, MIG generated revenues of approximately £270 million.

 

Completion of the acquisition is subject to customary competition approval by
the European Commission and anticipated no later than Q4 2023.

 

Régis Schultz, CEO of JD, said:

 

"Acquiring the remaining 40% stake in MIG allows us to accelerate the
development of JD in Central and Eastern Europe, the strong foundations for
which have been established alongside the outgoing shareholders. Increasing
JD's presence in the region through new store openings and further investment
in our omnichannel capabilities is a key part of the strategic growth plan set
out at our Capital Markets Day presentation. The complementary Sizeer brand
provides a strong platform for the MIG business and the JD brand has evidenced
strong initial traction with the consumer, which we will continue to build
upon.

 

"We look forward to closing the transaction and continuing an exciting journey
with the local management team."

 

Enquiries:

 

 JD Sports Fashion Plc                                                  Tel: 0161 767 1000

 Régis Schultz, Chief Executive Officer
 Neil Greenhalgh, Chief Financial Officer
 Theresa Casey, Legal Counsel & Company Secretary
 Mark Blythman, Director of Investor Relations

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

 

 

 

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