JD Sports has agreed a deal in which it will acquire all of the remaining shares of Footasylum, adding to the stake it bought in February. JD Sports will pay £90.1 million for the tranch of shares and confirmed that it will continue to trade from the current chain of Footasylum stores and website, retaining the established trading name and positioning. The offer od 82.5p per share represented a 77.4 per cent premium on Footasylum’s closing price on Friday March 15th.
JD Sports has commented to the effect that there will be operational and strategic benefits from combining the businesses and that Footasylum has a slightly older customer profile which will extend JD Sports reach.
Footasylum was founded in 2005.
Share