UK-based JD Sports has acquired Groupe Courir, a 323-store sneaker retailer with locations in France, Spain, Belgium, the Netherlands, Portugal and Luxembourg. The €520 million ($548.1 million USD) purchase price will be paid through a combination of existing cash and a drawdown of JD Sports’ revolving credit facility.
The deal, first announced in May 2023, will require Courir to sell 15 stores in France and all six stores in Portugal to Snipes. For calendar year 2023, Courir reported revenue of €725.8 million ($765 million USD) and profit before interest and tax of €50.3 million ($53 million USD). Three Courir stores operate under the Naked banner, an elevated women’s sneaker concept.
“This acquisition will broaden the JD Group’s customer reach, adding a more female, fashion-conscious and older customer base to complement the Group’s core customers,” said Régis Schultz, CEO of JD Sports Fashion in a statement.
JD Sports has a tradition of growing through acquisition: the retailer had purchased Finish Line in March 2018 for $558 million, and in April 2024 JD Sports purchased U.S. retailer Hibbett for approximately $1.1 billion.
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