JD Sports acquires remaining 40% stake in Polish business to accelerate expansion
Bury-based sports and athleisure retailer, JD Sports Fashion, has acquired the remaining shares in a Polish business it first acquired in 2021.
It said the purchase of the outstanding 40% minority shareholding in Marketing Investment Group S.A. (MIG) will accelerate JD’s development in Central and Eastern Europe.
JD exercised its rights under a call option to acquire the outstanding stake of MIG from its minority shareholders and to become the 100% sole owner of the business.
JD originally acquired a 60% stake in 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 January 31, 2023, MIG generated revenues of approximately £270m.
Completion of the acquisition is subject to customary competition approval by the European Commission and anticipated no later than the fourth quarter of 2023.
JD CEO, Régis Schultz, 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.”
He added: “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.”
