LONDON: JD Sports Fashion Plc (LSE: JD) has completed the acquisition of Groupe Courir S.A.S. The deal was finalized after receiving conditional clearance from the European Commission on October 22, 2024, and meeting all other conditions.

CEO Régis Schultz stated, “This acquisition is a key milestone in our European strategy, expanding our customer base to include more women, fashion-conscious, and older customers.”

Courir, a leading sneaker retailer in France and the largest sneaker market in Europe, has 323 stores across France, Spain, Belgium, the Netherlands, Portugal, and Luxembourg. Additionally, there are 36 Courir franchise stores in North West Africa, the Middle East, and French overseas territories, as well as three stores under the women’s sneaker brand, Naked.

To comply with the European Commission’s conditions, 15 Courir stores in France and all six in Portugal will be sold to Snipes by Q1 FY26. These stores will continue operating under the Courir name until the divestment.

The acquisition, valued at €520 million, was funded through cash and a revolving credit facility. In 2023, Courir reported €725.8 million in revenue and €50.3 million in profit before interest and tax.

JD Sports looks forward to collaborating with Courir’s management team, led by Pierre Chambaudrie, to further grow the Courir brand in Europe.

JD Sports Fashion to acquire Groupe Courir S.A.S for an enterprise value of €520 million