JD Sports Fashion Plc Acquisition of additional holding in Deporvillage (9854C)

TIDMJD.

RNS Number : 9854C

JD Sports Fashion Plc

14 October 2022

14 October 2022

JD Sports Fashion Plc

('JD' or the 'Group')

Acquisition of additional holding in Deporvillage

Further to the Group's announcement on 28 June 2021, JD Sports Fashion Plc, a leading retailer of sports, fashion and outdoor brands, announces that earlier today, Iberian Sports Retail Group SL ('ISRG'), the Group's existing 50.02% intermediate holding company in Spain, acquired an additional 18% holding in the issued shares in Deporvillage SL ('Deporvillage') from Xavier Pladellorens and Àngel Corcuera, (the 'Co-Founders') for cash consideration of EUR19.8 million (the 'Transaction').

Deporvillage was founded in 2010 and is based in Manresa in Catalonia, Spain. Deporvillage is an online sports retailer specialising in cycling, running, outdoor, and other sports categories. It is currently the number one online sports retailer by market share in Spain, and has a well-established presence in Italy, Portugal and France.

Following the Transaction, ISRG own 98% of Deporvillage with the Co-Founders retaining a 2% interest. As part of the Transaction, the Co-Founders will, following a transition period, step away from the management of the business.

ISRG and the Co-Founders have also entered into put and call options over the Co-Founders' remaining 2% interest in Deporvillage. The consideration payable for this remaining 2% holding has been capped.

By virtue of the fact that the Co-Founders were substantial shareholders and are directors of Deporvillage, the Transaction and the entering into of the capped put option constitutes a transaction with related parties with the Transaction classified as a smaller related party transaction pursuant to Listing Rule 11.1.10.

Enquiries:

JD Sports Fashion Plc Tel: [phone]

Andrew Higginson, Non-Executive Chair

Régis Schultz, Chief Executive Officer

Neil Greenhalgh, Chief Financial Officer

FGS Global Tel: [phone]

Rollo Head

Jenny Davey

James Thompson

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October 14, 2022 08:27 ET (12:27 GMT)