JD Sports Fashion Plc has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. which is based in Krakow, Poland.
Founded in 1989 the Polish business operates 410 retail stores and associated trading websites across nine countries in Central and Eastern Europe, selling a wide range of sports fashion footwear, apparel and accessories from leading global brands under the Sizeer and to Style fascias. In the year ended January 31st 2020, it generated revenues in the region of £200 million.
Completion of the acquisition is subject to customary closing conditions, including approval by the competition authorities in Poland, with completion timetabled to be prior to the end of May 2021.
Peter Cowgill, executive chairman of JD Sports Fashion Plc, said: “This is an exciting acquisition for JD that will further build on the success of our international development strategy, expanding our operations into Central and Eastern Europe.”
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