27
November 2024
JD SPORTS FASHION
PLC
COMPLETION OF THE ACQUISITION OF COURIR
Further to the announcement on 9 May
2023, JD Sports Fashion Plc ('JD' or the 'Group') announces the
completion of its acquisition of Groupe Courir S.A.S ("Courir")
today, following receipt of conditional clearance from the European
Commission on 22 October 2024 and the satisfaction of all other
outstanding conditions.
Régis Schultz, CEO of JD Sports
Fashion Plc, said: "The completion of our acquisition of Courir is an exciting
milestone for our Complementary Concepts strategy in Europe and we
look forward to working with its experienced management team as we
deliver on our growth plans. This
acquisition will broaden the JD Group's customer reach adding a
more female, fashion-conscious and older customer base to
complement the Group's core customers."
Courir is a market leader in
sneakers in France*, which is the largest sneaker market in
Europe*, and this acquisition reinforces our position within
Europe. It has 323 stores currently, bannered as Courir across
France, Spain, Belgium, the Netherlands, Portugal and Luxembourg.
In addition, there are a further 36 stores which trade under
franchise agreements as Courir in North West Africa, Middle East
and French overseas territories. Further, there are three stores
which trade as Naked, an elevated concept for women's
sneakers.
In accordance with the European
Commission's conditional clearance decision, 15 of Courir's stores
in France and all of Courir's six stores in Portugal will be
divested to Snipes during Q1 FY26. In accordance with Commitments
given to the European Commission, these stores will continue to be
operated under the Courir banner until divested to
Snipes.
The acquisition price is €520m, paid
through a combination of existing cash and a drawdown on our
revolving credit facility. In the year to 31 December 2023, Courir
reported revenue of €725.8m and profit before interest and tax of
€50.3m.
We welcome Courir management into
the Group and we look forward to working with Pierre Chambaudrie
and his team to develop Courir further in Europe.
*Circana 2024 © All rights
reserved
Enquiries:
JD Sports Fashion Plc
Tel: 0161 767
1000
Régis
Schultz, Chief Executive Officer
Dominic
Platt, Chief Financial Officer
Mark
Blythman, Director of Investor Relations
Advisors
Bank of
America - Antonia Rowan
Tel: 0207 628 1000
Peel
Hunt LLP - Dan Webster
Tel: 0207
418 8869
FGS
Global - Rollo Head, Jenny Davey, James Thompson
Tel: 0207 251
3801
About JD Sports Fashion Plc
Founded in 1981, the JD Group ('JD')
is a leading global omnichannel retailer of Sports Fashion brands.
JD provides customers with the latest sports fashion through
working with established and new brands to deliver products that
our customers most want, across both footwear and apparel. The
vision of JD is to inspire the emerging generation of consumers
through a connection to the universal culture of sport, music and
fashion. JD focuses on four strategic pillars: JD Brand First,
first priority, first in the world; leveraging Complementary
Concepts to support JD Group global expansion; moving Beyond
Physical Retail by building the right infrastructure and creating a
lifestyle ecosystem of relevant products and services; and doing
the best for its People, Partners and Communities. JD is a
constituent of the FTSE 100 index and had 4,541 stores worldwide at
2 November 2024.