JD. Jd Sports Fashion Plc

TIDMJD.

RNS Number : 6570I

JD Sports Fashion Plc

08 August 2023

8 August 2023

JD Sports Fashion Plc

Marketing Investment Group S.A. - minority acquisition

JD Sports Fashion Plc ('JD' or the 'Group') today announces that it has exercised its rights under a call option and entered into a conditional agreement to acquire the outstanding 40% minority stake of Marketing Investment Group S.A. ('MIG' or 'Company') from its minority shareholders and will become the 100% sole owner of MIG.

JD originally acquired a 60% stake in Poland-based MIG in April 2021, and since then has established the JD fascia in five countries across Central and Eastern Europe operating 18 JD stores. MIG also continues to trade profitably through Sizeer and other complementary fascias, selling a wide range of sports footwear, apparel and equipment from leading global brands. In the year ended 31 January 2023, MIG generated revenues of approximately GBP270 million.

Completion of the acquisition is subject to customary competition approval by the European Commission and anticipated no later than Q4 2023.

Régis Schultz, CEO of JD, said:

"Acquiring the remaining 40% stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe, the strong foundations for which have been established alongside the outgoing shareholders. Increasing JD's presence in the region through new store openings and further investment in our omnichannel capabilities is a key part of the strategic growth plan set out at our Capital Markets Day presentation. The complementary Sizeer brand provides a strong platform for the MIG business and the JD brand has evidenced strong initial traction with the consumer, which we will continue to build upon.

"We look forward to closing the transaction and continuing an exciting journey with the local management team."

Enquiries:

 
 JD Sports Fashion Plc                 Tel: 0161 767 1000 
 Régis Schultz, Chief Executive 
  Officer 
 Neil Greenhalgh, Chief Financial 
  Officer 
 Theresa Casey, Legal Counsel 
  & Company Secretary 
 Mark Blythman, Director of 
  Investor Relations 
 
 
 FGS Global       Tel: 0207 251 3801 
 Rollo Head 
 Jenny Davey 
 James Thompson 
 

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August 08, 2023 08:00 ET (12:00 GMT)

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