JD Sports Fashion previously held a 50.02% stake in the Spanish online sports retailer. The purchase was made through Iberian Sports Retail for a cash consideration of EUR19.8m (US$19.4m). The acquisition of shares was made from co-founders Xavier Pladellorens and Àngel Corcuera.
Deporvillage was founded in 2010 and is based in Manresa in Catalonia, Spain. Deporvillage is an online sports retailer specialising in cycling, running, outdoor, and other sports categories. It is currently the number one online sports retailer by market share in Spain, and has a well-established presence in Italy, Portugal and France.
Following the transaction, ISRG owns 98% of Deporvillage with the co-founders retaining a 2% interest. As part of the transaction, the co-founders will, following a transition period, step away from the management of the business.
ISRG and the co-founders have also entered into ‘put and call’ options over the remaining 2% interest in Deporvillage. The consideration, payable for this remaining 2% holding, has been capped.
JD Sports Fashion Plc acquired a majority stake in Deporvillage in June last year in a deal worth around EUR140m (US$167m).
The purpose of the acquisition of Deporvillage is to enhance JD Sports’ authenticity in key sports categories, significantly increase its digital capabilities in the sports equipment market, and complement the ongoing positive developments in the group’s existing Sprinter and Sport Zone fascias.