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Share Name Share Symbol Market Type Share ISIN Share Description
Jd Sports Fashion Plc LSE:JD. London Ordinary Share GB00BM8Q5M07 ORD 0.05P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.90 -3.52% 189.10 190.25 190.40 195.00 189.70 195.00 8,344,983 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 6,167.3 324.0 23.1 8.2 9,754

JD Sports Fashion Plc Acquisition of Deporvillage in Spain

28/06/2021 7:00am

UK Regulatory (RNS & others)

Jd Sports Fashion (LSE:JD.)
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RNS Number : 2348D

JD Sports Fashion Plc

28 June 2021

28 June 2021

JD Sports Fashion Plc

Conditional agreement for the acquisition of Deporvillage in Spain

JD Sports Fashion Plc ('JD' or the 'Group'), one of the world's leading retailers of sports, fashion and outdoor brands, announces that on 25 June 2021, Iberian Sports Retail Group SL ('ISRG'), its existing 50.02% intermediate holding company in Spain, entered into a conditional agreement to acquire 80% of the issued shares in Deporvillage SL ('Deporvillage').

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 EUR117.8 million and delivered a profit before tax of EUR7.7 million. The gross assets at 31 December 2020 were EUR51.1 million.

Deporvillage was established by Xavier Pladellorens and Ángel Corcuera ('Management') who, after a number of fund raising exercises, are currently minority shareholders. Post completion, the Management will retain a 20% 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.

Total maximum cash consideration for the acquisition of the initial 80% holding in Deporvillage, subject to customary cash / debt and working capital adjustments, is EUR140.4 million, of which EUR40.4 million has been deferred and will be paid contingent on the performance of the business to 31 December 2021. The cash consideration is being funded from the Group's cash resources and existing bank facilities. Additionally, a number of put and call options, to enable future exit opportunities for Xavier Pladellorens and Ángel Corcuera have also been agreed, which commence two years after closing.

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."


JD Sports Fashion Plc Tel: 0161 767 1000

Peter Cowgill, Executive Chairman

Neil Greenhalgh, Chief Financial Officer

Jennifer Iveson, Investor Relations

MHP Communications Tel: 0203 128 8788

Andrew Jaques

Giles Robinson

Charles Hirst

Catherine Chapman

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(END) Dow Jones Newswires

June 28, 2021 02:00 ET (06:00 GMT)

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