Business
Acquisition of additional holding in Deporvillage
Acquisition of additional holding in Deporvillage.
About this update from Jd Sports Fashion Plc
[{"type":"text","content":"\n \n \n \n 14 October 2022\n \n \n \n \n JD Sports Fashion Plc\n \n \n \n ('JD' or the 'Group')\n \n \n \n \n \n \n Acquisition of additional holding in Deporvillage\n \n \n \n \n \n \n Further to the Group's announcement on 28 June 2021, JD Sports Fashion Plc, a leading retailer of sports, fashion and outdoor brands, announces that earlier today, Iberian Sports Retail Group SL ('ISRG'), the Group's existing 50.02% intermediate holding company in Spain, acquired an additional 18% holding in the issued shares in Deporvillage SL ('Deporvillage') from Xavier Pladellorens and Àngel Corcuera, (the 'Co-Founders') for cash consideration of €19.8 million (the 'Transaction').\n \n \n \n \n \n Deporvillage was founded in 2010 and is based in Manresa in Catalonia, Spain. Deporvillage is an online sports retailer specialising in cycling, running, outdoor, and other sports categories. It is currently the number one online sports retailer by market share in Spain, and has a well-established presence in Italy, Portugal and France.\n \n \n \n \n \n Following the Transaction, ISRG own 98% of Deporvillage with the Co-Founders retaining a 2% interest. As part of the Transaction, the Co-Founders will, following a transition period, step away from the management of the business.\n \n \n \n \n \n ISRG and the Co-Founders have also entered into put and call options over the Co-Founders' remaining 2% interest in Deporvillage. The consideration payable for this remaining 2% holding has been capped.\n \n \n \n \n \n By virtue of the fact that the Co-Founders were substantial shareholders and are directors of Deporvillage, the Transaction and the entering into of the capped put option constitutes a transaction with related parties with the Transaction classified as a smaller related party transaction pursuant to Listing Rule 11.1.10.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n JD Sports Fashion Plc Tel: 0161 767 1000\n \n \n \n Andrew Higginson, Non-Executive Chair\n \n \n Régis Schultz, Chief Executive Officer\n \n \n Neil Greenhalgh, Chief Financial Officer\n \n \n \n \n \n \n FGS Global Tel: 0207 251 3801\n \n \n \n Rollo Head\n \n \n Jenny Davey\n \n \n James Thompson\n \n \n \n \n \n ","length":4405,"tagName":"div"}]