UK Markets closed
  • FTSE 100

    7,027.58
    +59.28 (+0.85%)
     
  • FTSE 250

    22,883.39
    +206.11 (+0.91%)
     
  • AIM

    1,232.54
    +4.45 (+0.36%)
     
  • GBP/EUR

    1.1675
    -0.0013 (-0.11%)
     
  • GBP/USD

    1.3754
    -0.0013 (-0.0977%)
     
  • BTC-GBP

    24,564.94
    +675.03 (+2.83%)
     
  • CMC Crypto 200

    786.33
    -7.40 (-0.93%)
     
  • S&P 500

    4,411.79
    +44.31 (+1.01%)
     
  • DOW

    35,061.55
    +238.20 (+0.68%)
     
  • CRUDE OIL

    72.17
    +0.26 (+0.36%)
     
  • GOLD FUTURES

    1,802.10
    -3.30 (-0.18%)
     
  • NIKKEI 225

    27,548.00
    +159.80 (+0.58%)
     
  • HANG SENG

    27,321.98
    -401.86 (-1.45%)
     
  • DAX

    15,669.29
    +154.75 (+1.00%)
     
  • CAC 40

    6,568.82
    +87.23 (+1.35%)
     

JD Sports agrees to buy online retailer Deporvillage in Spain

·1-min read
JD Sports has been on a global shopping spree (JD Sports)
JD Sports has been on a global shopping spree (JD Sports)

JD Sports, the retailer that has been on a global shopping spree recently, has inked a €140.4 million (£120.3 million) deal to acquire online business Deporvillage in Spain.

The sportswear chain said Iberian Sports Retail Group, the holding company in Spain it has a 50% stake in, has agreed to buy 80% of the shares in Deporvillage.

The company being bought is based in Manresa in Catalonia and sells cycling, running and outdoor equipment online. It launched in 2010 and today has a number of websites in European countries and entered the UK market in 2018.

Deporvillage generated sales of €117.8 million last year. Its founders will retain a 20% holding in the business and continue to run it.

The deal is worth up to €140.4 million, of which €40.4 million has been deferred as is linked to the performance in 2021.

JD Sports’ executive chairman Peter Cowgill said: “Deporvillage has a strong consumer-centric approach and is the market leader in its categories in Spain with significant potential for further international development."

It marks the latest swoop by the retailer, with a number of transactions announced since December 2020. Deals have included Shoe Palace in the US and Marketing Investment Group in Poland.

Today’s update comes ahead of JD Sports’ annual meeting on Thursday. Some shareholder advisory groups have been critical of £4.3 million of bonuses for Cowgill in a year of government support. JD says most of the bonus was approved by shareholders in 2019.

Read More

FTSE 100 starts the week flat as rising Bitcoin shrugs off Binance ban by UK regulators

Burberry chief executive Marco Gobbetti to step down from leading the fashion firm

Revealed: ITV to reduce London office space and take new home at White City, as flexible working embraced

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting