Sports retail giant JD Sports Fashion Plc has completed its US$495m acquisition of US athletic footwear and apparel streetwear retailer DTLR Villa in a move that extends its presence in the north and east of the United States.
Based in Baltimore, Maryland, and previously majority-owned by BRS & Co. and Goode Capital, DTLR was established in 1982 and is a hyperlocal athletic footwear and apparel streetwear retailer. Originally named Downtown Locker Room, the company later re-branded as DTLR and in 2017 merged with Sneaker Villa Inc.
“We are delighted that this transaction, which gives us an enhanced presence in the north and east of the United States, has now formally completed,” says Peter Cowgill, executive chairman of JD. “We look forward to working with the experienced management team at DTLR and all our colleagues in the United States to further enhance our premium retail experience and become a leading customer destination for sneakers and lifestyle apparel.”
Completion of the deal, which was first announced on 1 February, comes less than a week after the retailer struck a deal to acquire a 60% stake in Poland’s Marketing Investment Group (MIG), which sells a range of sports fashion footwear and apparel from leading global brands, primarily under the Sizeer and 50 Style fascias.
JD Sports last month said it raised GBP464m (US$634m) in its latest share placing to support future acquisition opportunities.
The company also snapped up US footwear retailer Shoe Palace in a US$325m deal in early December to increase its presence on the US West Coast, and purchased UK menswear independent retailer Wellgosh.
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