UK retailer JD Sports Fashion has formally completed its acquisition of US athleticwear chain The Finish Line in a deal worth US$558m.

The news comes after a statement following its general meeting last week, in which JD said 99.995% of shareholder votes were in favour of the acquisition and, as such, all conditions of the deal have now been satisfied.

News of the acquisition first broke in March with JD saying it planned to acquire 100% of the issued share capital of Finish Line at a price of $13.50 per share in cash.

Headquartered in Indianapolis, Finish Line trades from 556 branded retail stores across 44 US states and Puerto Rico in addition to a multi-channel offering. It is also the exclusive retailer of athletic shoes, both in-store and online for Macy's, operating 375 branded and 188 unbranded concessions within Macy's stores. 

"We are delighted to announce that we have today completed the acquisition of Finish Line. This marks a momentous step in JD's global expansion and represents an exciting opportunity to bring our market leading, multi-brand retail proposition to the world's largest athleisure market, both online and in stores," said Peter Cowgill, executive chairman of JD. "Our team will now collaborate with the experienced Finish Line management team and the key global brands to bring best in class retail theatre and multi-channel consumer experience to the US."

Sam Sato, CEO of The Finish Line, added: "Today, with the closing of this merger with JD, Finish Line opens an exciting new chapter. With a global footprint, together we will bring leading-edge innovation and service to our customers. Our shared vision and drive to provide a premium retail experience will further our impact as a leading, premium multi-channel retailer of sports, fashion and outdoor brands."