JD Sports enters US market with $558m acquisition
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Leading European retailer, JD Sports Fashions, the owner the Go Outdoors chain, has entered the US market with the $558 million acquisition of Finish Line.
One of the largest retailers of premium, multi-branded athletic footwear, apparel and accessories in the United States, Finish Line trades from 556 stores across 44 states and Puerto Rico, in addition to an established multi-channel offering.
Peter Cowgill, Executive Chairman of JD Sports, described the acquisition as a landmark for the company and ‘transformational’ for the business. “We are extremely excited to be joining up with Finish Line, a well-established US operator.
“The acquisition represents an excellent opportunity for JD to establish its market leading multi-brand proposition in the world’s largest athleisure market. It immediately offers a major presence in the US, a clear next step to further increase our global scale.
“Finish Line has many similarities to JD with a strong bricks and mortar offering complemented by an advanced and well-invested digital platform.”
Sam Sato, Chief Executive Officer of Finish Line, said: “Finish Line has long admired JD and its commitment to serve customers with premium brands through a unique and innovative retail experience. We are thrilled to partner with them and look forward to realising the impact we will have on the marketplace together.
“We are looking forward to working with Finish Line’s experienced management team to bring best in class retail theatre to the US. Our combined extensive knowledge of the retail market and our product and marketing relationships with global brand partners will benefit our customers, in turn supporting the continued future growth of JD.”
JD Sports acquired Go Outdoors, which boasts a healthy fishing tackle operation, in November 2016 for £112 million.