Britain’s JD Sports acquires 80% stake in Spanish online retailer Deporvillage
June 28 (Reuters) – JD Sports Fashion (JD.L) announced Monday that its Spanish unit will buy an 80% stake in online sports equipment retailer Deporvillage SL for 140.4 million euros (168 million euros). dollars), as Britain’s largest sportswear chain expands its online presence.
JD said Iberian Sports Retail Group SL – its 50.02% intermediary holding company in Spain – will buy the Manresa, Catalonia-based online retailer, focusing on specialist sports equipment primarily for cycling, running and outside.
âDeporvillage has a strong consumer-centric approach and is the market leader in its categories in Spain with significant potential for further international development,â said Peter Cowgill, Executive Chairman of JD Sports.
Following the closing of the transaction, the current management of Deporvillage will retain a 20% stake in the company, with founders Xavier Pladellorens and Ãngel Corcuera continuing their roles as Managing Director and Purchasing Director, respectively.
In March, JD entered the Central and Eastern European markets by agreeing to buy 60% of Polish Marketing Investment Group (MIG).
The British retailer, which has strengthened its overseas presence since joining a Malaysian joint venture in 2015, bought Finish Line in the United States in 2018, Shoe Palace focused on the west coast in December and DTLR Villa in February.
($ 1 = â¬ 0.8384)
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta
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