LONDON – British sneaker and clothing giant JD Sports Fashion confirmed Tuesday that it plans to accumulate the French company Groupe Courir as a part of a world acquisitions drive.
The FTSE 100 company, which is majority owned by Pentland Group, had entered into exclusive negotiations with Groupe Courir, a footwear and sports apparel retailer, earlier this week.
Groupe Courir is currently majority owned by Equistone Partners Europe, which had acquired the footwear and apparel retailer in 2018 following its carve-out from France’s Groupe Go Sport.
In accordance with JD, the deal has an enterprise value of 520 million euros.
JD said that, in accordance with French law, Courir management will begin consultation processes with worker representative bodies prior to getting into a...
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