JD Sports to buy France's Courir in €520m deal

9th May 2023 07:33

(Sharecast News) - JD Sports said on Tuesday that it has agreed to buy French sportswear retailer Courir in a €520m deal.

Courir has 313 stores across six countries in Europe and an additional 36 stores which trade under franchise agreements as Courir in North West Africa, Middle East and French overseas territories. It also has two stores which trade as Naked in Denmark.

Chief executive Régis Schultz said: "We are delighted to announce the proposed acquisition of Courir, a business that is held in high regard in the European sportswear community. We look forward to concluding the contemplated transaction, welcoming the Courir team to the group and then working with management to fulfil Courir's global potential.

"Investing in quality complementary concepts whilst furthering the growth of JD itself is a key strategic pillar for the group and one which we will continue to pursue in the future."

Courir is currently owned by private equity firm Equistone, which bought the business in 2018 following the carve-out from Groupe Go Sport.

In the year to the end of December 2022, Courir had consolidated revenues of €609.8m, profit before interest and tax of €47.4m and gross assets of €678.4m.