JD Sports had agreed to acquire Deporvillage, a Spanish online retailer focussing on the sale of specialist sports equipment, for €140.4m (£120.4m).
The group’s 50.02% intermediate holding company in Spain, entered into a conditional agreement to acquire 80% of the issued shares in Deporvillage SL.
Based in Manresa in Catalonia, Deporvillage is a pure-play online store for cycling, running and outdoor goods. It first launched in 2010 and has since expanded internationally with country specific websites launched subsequently in Italy (2013), France (2013), Portugal (2014), Germany (2018) and the UK (2018).
In the year to 31 December 2020, Deporvillage generated revenues of €117.8m (£100.9m) and delivered a profit before tax of €7.7m (£6.6m).
Deporvillage was established by Xavier Pladellorens and Ángel Corcuera who, after a number of fund raising exercises, are currently minority shareholders.
Post completion, the pair will retain a 20% holding in the business and will be continuing in their roles as chief executive officer and chief purchasing officer respectively.
JD Sports said that the acquisition of Deporvillage, when completed, will “enhance the group’s authenticity” in key sports categories and significantly increase its “digital capabilities” in the sports equipment market.
Peter Cowgill, executive chairman of JD Sports, 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.”