JD Sports has announced its intention to acquire the remaining 49.98% shares in ISRG, which are currently held by Balaiko Firaja Invest, S.L. and Sonae Holdings, S.A. With the completion of this transaction, JD Sports will emerge as the sole owner of ISRG, fortifying its presence across Europe.
ISRG operates a vast network of over 460 stores across Europe, including well-established brands such as JD Sports in Iberia, Sprinter in Spain, Sport Zone in Portugal, and Aktiesport and Perry Sport in the Netherlands. Additionally, ISRG has a 98% stake in Deporvillage, a thriving online business, and a 50.1% holding in Bodytone, a prominent fitness equipment company.
During the fiscal year ending 31 January 2023, ISRG generated revenues totalling €1.2bn, with pre-tax profits amounting to €96.6m.
JD Sports anticipates the deal to be finalised in October 2023.
Régis Schultz, CEO of JD Sports commented: “At our Capital Markets Event earlier in the year, we emphasised the benefit of having strong complementary concepts to support our ‘JD first’ global growth strategy. ISRG is a highly successful business and one of the leading players in sports retail in Iberia.”
Schultz further highlighted the potential for accelerated growth resulting from the acquisition.
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JD Sports also extended its gratitude to Balaiko and Sonae, the minority shareholders, for their contributions to the partnership. The company acknowledged the importance of their involvement in the growth and success of ISRG during their time as partners.
Earlier this week JD Sports announced a franchise agreement with Dubai-headquartered wellbeing company GMG and in May it announced the acquisition of France’s Courir, a deal worth €520m, highlighting how the company is continuing to increase its foothold in both the European and Middle East retail markets.