JD Sports lifts stake in Spain's Deporvillage to 98%

14th Oct 2022 15:15

(Sharecast News) - JD Sports said on Friday that it has bought a further 18% interest in Spanish online sports retailer Deporvillage from co-founders Xavier Pladellorens and Àngel Corcuera for €19.8m.

The stake was purchased through Iberian Sports Retail Group (ISRG), JD's Spanish division. Following the transaction, ISRG owns 98% of Deporvillage, while the co-founders have retained a 2% interest.

As part of the deal, the co-founders will step away from management of the business following a transition period.

JD said ISRG and the co-founders have also entered into put and call options over the remaining 2% interest in Deporvillage. The consideration payable for this has been capped.

Founded in 2010 and based in Manresa in Catalonia, Deporvillage specialises 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.

JD Sports fist announced in June 2021 that it had taken an 80% stake in Deporvillage.