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JD Sports has completed its acquisition of French sneaker retailer Group Courir for €520m (£433m), which will be paid through a combination of existing cash and a drawdown on the group’s revolving credit facility.
The acquisition, which was first announced on 9 May 2023, follows receipt of conditional clearance from the European Commission earlier on 22 October and the satisfaction of all other conditions.
Courir has a portfolio of 323 stores across France, Spain, Belgium, the Netherlands, Portugal and Luxembourg.
There are a further 36 stores which trade under franchise agreements as Courir in North West Africa, the Middle East and French overseas territories.
In addition, Courir operates another three stores which trade as Naked, an “elevated” concept for women’s sneakers.
In the year to 31 December 2023, Courir reported revenue of €725.8m (£605.5m) and profit before interest and tax of €50.3m (£41.9m).
Régis Schultz, CEO of JD Sports, said: “The completion of our acquisition of Courir is an exciting milestone for our Complementary Concepts strategy in Europe and we look forward to working with its experienced management team as we deliver on our growth plans.
“This acquisition will broaden the JD Group’s customer reach adding a more female, fashion-conscious and older customer base to complement the group’s core customers.”
