Business
Proposed Acquisition of Courir in France
Proposed Acquisition of Courir in France.
About this update from Jd Sports Fashion Plc
[{"type":"text","content":"\n\n \n9 May 2023\n \nJD Sports Fashion Plc\n \nEuropean Developments - Proposed Acquisition of Courir in France and Simplification of Minority Shareholdings\n \nJD Sports Fashion Plc ('Group') announces its intention to take its first acquisitive steps in fulfilling the growth ambitions, as set out at the Capital Markets Event in February this year. Additionally, the Group is reviewing options to simplify the shareholdings in a number of its subsidiary businesses across Europe with a view to accelerating the development opportunities that exist for the JD fascia.\n \nRégis Schultz, CEO of JD, said:\n \n\"We said at our recent Capital Markets Event that this was the start of a new, distinct chapter in the growth story of JD. The exciting developments that we are announcing today reflect the strategic priorities that we highlighted on the day.\n \n\"We are delighted to announce the proposed acquisition of Courir, a business that is held in high regard in the European sportswear community. We look forward to concluding the contemplated transaction, welcoming the Courir team to the Group and then working with management to fulfil Courir's global potential. Investing in quality complementary concepts whilst furthering the growth of JD itself is a key strategic pillar for the Group and one which we will continue to pursue in the future.\n \n\"Securing greater control over the long-term development of JD and prioritising the development of the JD brand is a key pillar in our growth strategy in Europe. It will give us simpler decision making which will allow us to use our assets with more efficiency. At the same time, it will considerably simplify the group operations. We thank our partners for their contribution to the development of JD across Europe and for their constructive engagement.\"\n \nProposed Acquisition of Groupe Courir\n \nOn 8 May 2023, the Group entered into exclusive negotiations with the owners of Groupe Courir S.A.S ('Courir') with regards to the potential future acquisition of 100% of the issued share capital of Courir for an enterprise value of €520 million ('Transaction').\n \nThe business is currently majority owned by Equistone Partners Europe ('Equistone') which acquired Courir in 2018 following the carve out from Groupe Go Sport. In accordance with French ...