Sportswear retailer JD Sports Fashion has announced the acquisition of Deporvillage SL in Spain for €140.4m.
The Bury-based company said that its existing 50.02 per cent intermediate holding company in Spain, Iberian Sports Retail Group SL entered into a conditional agreement to acquire 80 per cent of the issued shares in Deporvillage SL.
Based in Manresa in Catalonia, Deporvillage is an online only retailer focussing on the sale of specialist sports equipment principally for cycling, running and outdoor. After launching initially in Spain in 2010, Deporvillage has expanded internationally with country specific websites launched subsequently in Italy (2013), France (2013), Portugal (2014), Germany (2018) and UK (2018). In the year to 31 December 2020, Deporvillage generated revenues of €117.8m and delivered a profit before tax of €7.7m. The gross assets at 31 December 2020 were €51.1m.
Deporvillage was established by Xavier Pladellorens and Ángel Corcuera who, after a number of fund raising exercises, are currently minority shareholders. Post completion, the management will retain a 20 per cent holding in the business and will be continuing in their roles as Chief Executive Officer and Chief Purchasing Officer respectively.
Completion of the acquisition is subject to receiving antitrust clearance.
The acquisition of Deporvillage, when completed, will enhance the group’s authenticity in key sports categories, significantly increase its digital capabilities in the sports equipment market and will complement the ongoing positive developments in the group’s existing Sprinter and Sport Zone fascias.
Peter Cowgill, Executive Chairman of JD Sports Fashion Plc, 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. We look forward to closing the transaction and welcoming the Deporvillage team to the Group.”
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