Fashion Investments and M&A

Date: April 2024
Buyer: JD Sports Fashion
Target: Hibbett, Inc.
Business: Sportswear / Athletic fashion retailer
Value: $1.08billion
Details: JD Sports Fashion (“JD Sports”) has agreed to acquire US athletic fashion retailer, Hibbett, Inc., for $1.08billion, equal to $87.50 per share. Hibbett, Inc. is headquartered in Alabama, and operates 1,169 stores across 36 states in the US. The North American region currently contributes 32% to JD Sports’ total sales, and adding Hibbett to JD Sports’ portfolio is thought to increase that contribution to 40%, and will increase JD Sports’ US reach “from coast to coast”.

Date: May 2023 (expected to complete in the second half of 2023)
Buyer: JD Sports
Target: Groupe Courir
Business: Sportswear
Value: €520 million
Details: JD Sports has entered into exclusive negotiations to purchase French sportswear retailer, Groupe Courir . The deal will require the approval of the European Commission and is not expected to complete before the second half of 2023. In accordance with French law, Courir’s management will be commencing consultations with its employee representative bodies before a binding sale and purchase agreement is put in place. It is proposed that the purchase will be financed by way of existing cash resources (€325 million) and by debt (€195 million).

Date: October 2021
Buyer: JD Sports
Target: Cosmos Sport S.A
Business: Sportswear and premium footwear
Value: Undisclosed
Details: JD Sports has acquired an 80% stake in Crete based brand, Cosmos Sport S.A, which operates 57 stores across Greece and 3 in Cyprus. Prior to the investment 70% of Cosmos Sport S.A was owned by founder Fragiskos Tsiknakis and his family with the rest being owned by EOS Capital Partners AIFM. Fragiskos Tsiknakis and his family retain a 20% stake following the transaction with investor EOS Capital Partners disposing its entire holding as part of the deal. The acquisition boosts JD Sports presence in Europe and reports of the acquisition resulted in a rise of its share price.

Date: September 2021
Buyer: JD Sports
Target: Hairburst
Business: Beauty and Haircare
Value: Undisclosed
Details: Sportwear giant, JD Sports has entered the beauty sector by acquiring a stake in hair and cosmetics brand, Hairburst. Whilst the size of the investment has not been disclosed, the investment is expected to enable Hairburst to grow and acquire a number of other beauty brands.

Date: July 2021
Buyer: JD Sports Group
Target: Gym King
Business: Activewear retailer
Value: Undisclosed – reported as a multimillion pound investment
Details: JD Sports has made a significant investment into performance wear retailer Gym King securing a significant minority stake in the business. This strategic partnership is expected to support growth and international expansion for the Gym King brand, particularly in US, Europe and Asia.

Date: 28 June 2021
Buyer: JD Sports Group
Target: Deporvillage
Business: Online only sports equipment retailer
Value: €140.4m (£120.4m)
Details: JD Sports Group has acquired an 80% stake in Spanish online sports equipment retailer Deporvillage for €140.4m (£120.4m). €40.4 million of the €140.4 million acquisition price has been deferred and will be paid depending on the performance of the retailer this year. In addition, a number of put and call options to enable future exit opportunities for the founders, and current minority shareholders, Xavier Pladellorens and Ángel Corcuera have also been agreed, which commence two years after completion. Completion of the acquisition of the 80% stake is subject to receiving antitrust clearance.

Date: 25 June 2021
Buyer: JD Sports Group
Target: Missy Empire
Business: Online fashion retailer
Value: Undisclosed
Details: After raising $634 million for future acquisitions in February 2021, JD Sports has acquired a majority stake in Missy Empire for an undisclosed sum. The acquisition is part of wider ambitions for JD Sports to gain a footprint in the young fast fashion market. Missy Empire will remain an independent business from the JD Sports Group. However, Missy Empire’s sportswear collection, Missy Sport, could hit brick-and-mortar stores and JD Sports websites next year.

Date: May 2021
Buyer: JD Sports
Target: Oi Polloi
Business: Manchester-based clothing retailer which sells a luxury menswear brands such as Polo Ralph Lauren, Levi and Patagonia
Value: Undisclosed
Details: JD Sports has continued on with its acquisition spree, snapping up Manchester menswear independent Oi Polloi as its latest acquisition. Oi Polloi founders, Nigel Lawson and Steve Sanderson, have reportedly stepped away from the business following the acquisition. The acquisition is thought to have been made by JD Sports using funds received from the £464m placing in February 2021 for the purpose of raising M&A funds.

Date: March 2021
Buyer: JD Sports Fashion PLC (“JD Sports”)
Target: DTLR
Business: US sportswear and footwear retailer
Value: $495m (£360m)
Details: JD Sports has acquired the US sportswear and footwear retailer DTLR for $495 million (£360 million). The transaction gives JD Sports an enhanced presence in the north and east of the United States and gives JD Sports the opportunity to further enhance its premium retail experience and become a leading customer destination for sneakers and lifestyle apparel. The acquisition is the latest in a spree of acquisitions by JD Sports and completed in the same week that JD Sports acquired a 60% majority stake in Poland-based Marketing Investment Group (MIG) for an undisclosed sum.

Date: January 2021
Buyer: JD Sports
Target: Wellgosh
Business: Independent menswear retailer
Value: Undisclosed
Details: Wellgosh is an independent menswear retailer based in Leicester. Wellgosh is the latest brand to be added to JD Sports’ growing portfolio.