LONDON, UK: JD Sports Fashion Plc, Britain’s biggest sportswear retailer, announced on Tuesday that it will acquire the remaining 40% stake in Marketing Investment Group (MIG), a Polish retailer of sports fashion footwear, apparel and accessories.
The deal will make JD the sole owner of MIG and will accelerate its expansion in Central and Eastern Europe.
JD had originally acquired a 60% stake in MIG in April 2021, as part of its strategy to enter new markets and grow its international presence. Since then, JD has established its own brand in five countries across the region, operating 18 JD stores. MIG also continues to trade profitably through its Sizeer and other complementary brands, selling products from leading global brands such as Nike, Adidas and Puma. In the year ended 31 January 2023, MIG generated revenues of approximately £270 million.
The acquisition is subject to customary competition approval by the European Commission and is expected to be completed no later than the fourth quarter of 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.”
JD Sports is one of the leading retailers of sports fashion and outdoor brands in the UK and Europe. The group has over 2,500 stores across a number of retail fascias and operates in 19 countries. JD Sports is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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