The Finish Line, Inc. and JD Sports Fashion Plc Announce Completion of Merger
18 Junio 2018 - 7:45AM
Business Wire
The Finish Line, Inc. (“Finish Line”) and JD Sports Fashion Plc
(LSE:JD) (“JD Sports”) announced today that they have completed
their merger. As a result of the merger, Finish Line has become an
indirect wholly-owned subsidiary of JD Sports, which is the leading
European retailer of sports, fashion and outdoor brands, thereby
creating a market-leading multi-channel, multi-branded retailer of
sports fashion and footwear with expanded global scope.
“We are delighted to announce that we have today completed the
acquisition of Finish Line,” said Peter Cowgill, Executive Chairman
of JD Sports. “This marks a momentous step in JD Sports’ global
expansion and represents an exciting opportunity to bring our
market leading, multi-brand retail proposition to the world’s
largest athleisure market, both online and in stores. Our team will
now collaborate with the experienced Finish Line management team
and the key global brands to bring best in class retail theatre and
multi-channel consumer experience to the US.”
Sam Sato, Chief Executive Officer of Finish Line added, “Today,
with the closing of this merger with JD Sports, Finish Line opens
an exciting new chapter. With a global footprint, together we will
bring leading-edge innovation and service to our customers. Our
shared vision and drive to provide a premium retail experience will
further our impact as a leading, premium multi-channel retailer of
sports, fashion and outdoor brands.”
Barnes & Thornburg LLP served as legal counsel to
Finish Line. PJ SOLOMON served as lead financial advisor, Houlihan
Lokey Capital, Inc. served as financial advisor and Faegre Baker
Daniels LLP served as legal counsel to Finish Line’s Special
Committee of the Board of Directors in connection with this
transaction.
Barclays served as lead financial advisor to JD Sports and
Hughes Hubbard & Reed LLC, Addleshaw Goddard LLC and Taft
Stettinius & Hollister LLP served as legal counsel to JD
Sports. Barclays, HSBC Bank and PNC Bank, National Association
provided financing to JD Sports for the transaction.
About JD Sports Fashion
Plc
JD Sports is a leading multi-channel retailer of multi-branded
sports, fashion, and outdoor apparel and footwear, enabling
customers to shop seamlessly across well invested physical retail
stores and digital channels. JD Sports is admitted to the premium
listing segment of the Official List, and to trading on the main
market of the London Stock Exchange. JD Sports’ internet address is
www.jdplc.com.
About The Finish Line,
Inc.
The Finish Line, Inc. is a premium retailer that carries the
latest and greatest shoes, apparel and accessories. Headquartered
in Indianapolis, Finish Line runs approximately 930 branded
locations in U.S. malls and shops inside Macy’s department stores.
Finish Line employs approximately 13,000 associates who connect
customers to sneaker culture through style and sport. Shop online
at www.finishline.com or get access to everything on the Finish
Line app. Also keep track of what’s fresh by following Finish Line
on Instagram, Snapchat and Twitter.
Forward-Looking
Statements
This news release includes statements that are or may be
considered "forward-looking" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements generally
can be identified by the use of words or phrases such as "believe,"
"expect," "future," "anticipate," "intend," "plan," "foresee,"
"may," "should," "will," "estimates," "outlook," "potential,"
"optimistic," "confidence," "continue," "evolve," "expand,"
"growth" or words and phrases of similar meaning. Statements that
describe objectives, plans or goals also are forward-looking
statements. All of these forward-looking statements are subject to
risks, management assumptions and uncertainties that could cause
actual results to differ materially from those contemplated by the
relevant forward-looking statements. The principal risk factors
that could cause actual performance and future actions to differ
materially from the forward-looking statements include, but are not
limited to, the company's reliance on a few key vendors for a
majority of its merchandise purchases (including a significant
portion from one key vendor); the availability and timely receipt
of products; the ability to timely fulfill and ship products to
customers; fluctuations in oil prices causing changes in gasoline
and energy prices, resulting in changes in consumer spending as
well as increases in utility, freight and product costs; product
demand and market acceptance risks; deterioration of macroeconomic
and business conditions; the inability to locate and obtain or
retain acceptable lease terms for the company's stores; the effect
of competitive products and pricing with other local, regional, and
national retailers, as well as many of its own suppliers; loss of
key employees; execution of strategic growth initiatives (including
actual and potential mergers and acquisitions and other components
of the company's capital allocation strategy); cybersecurity risks,
including breach of customer data; the potential impact of legal or
regulatory changes, including the potential impact of enacted tax
reform legislation; a major failure of technology and information
systems; and the other risks detailed in the company's Securities
and Exchange Commission filings. Readers are urged to consider
these factors carefully in evaluating the forward-looking
statements. The forward-looking statements included herein are made
only as of the date of this report and Finish Line undertakes no
obligation to publicly update these forward-looking statements to
reflect subsequent events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20180618005602/en/
Finish Line:Dianna BoyceCorporate
Communications317-613-6577orEd WilhelmChief Financial
Officer317-613-6914orJD Sports Fashion
Plc:MHP CommunicationsAndrew JaquesBarnaby Fry0203 128
8100orPeter Cowgill, Executive ChairmanBrian Small, Chief Financial
OfficerSiobhan Mawdsley, Company Secretary0161 767 1000
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