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JD Sports sells Sports Unlimited Retail to Spanish unit
3rd Jun 2021 08:02
(Sharecast News) - JD Sports Fashion said it had sold its Sports Unlimited Retail unit for €16.5m to its 50%-owned Spanish subsidiary Iberian Sports Retail Group (ISRG).
Sports Unlimited Retail is based in the Netherlands operating under the Aktiesport and Perry Sport fascias. JD Sports said it felt ISRG was more focused on the sporting goods sector than the core JD brand and "therefore JD feel that the management team of ISRG will be better placed to drive growth and higher returns in SUR longer term".
"However, as the parent to ISRG, JD will continue to make strategic decisions regarding the company's future," it added.
The deal is expected to complete at the end of the month.
Sports Unlimited Retail is based in the Netherlands operating under the Aktiesport and Perry Sport fascias. JD Sports said it felt ISRG was more focused on the sporting goods sector than the core JD brand and "therefore JD feel that the management team of ISRG will be better placed to drive growth and higher returns in SUR longer term".
"However, as the parent to ISRG, JD will continue to make strategic decisions regarding the company's future," it added.
The deal is expected to complete at the end of the month.