UK: JD Sports acquires Sprinter group
UK retailer JD Sports Fashions has moved to acquire Spain’s Sprinter group in a deal that has cost the company EUR20m (US$29m).
JD completed the deal via its newly incorporated subsidiary JD Sprinter Holdings 2010, in which it invested EUR20m for a 50.1% stake, with the remainder split between Sprinter founders the Segarra family and long-term investors the Bernad family.
Sprinter was founded in 1981 and is one of Spain’s leading sports retailers, selling international sports brands and own-label goods from 47 stores, mostly based in Andalucia and Levante.
JD Sports said Sprinter’s “experienced management team and established infrastructure” would give the company the chance to expand its European retail presence and the distribution of its brands.
“It is our intention that the Sprinter store chain will continue to grow and a joint venture is being established between JD Sprinter and JD (in which JD will have an effective shareholding of 65%) to roll out JD as a more fashion-oriented retail fascia in Spain, emulating the UK format,” said JD Sports.
It added that, in the year to 31 December 2009, Sprinter recorded turnover of EUR80m and pre-tax profits of EUR2.1m.
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