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International acquisition for JD Sports

JD Sports Fashion has embarked on an international expansion programme with the acquisition of French sports retailer Chausport SA for €8m, plus fees. The UK group will also inherit net debt of €2m.

CITY & CORPORATE

International acquisition for JD Sports

JD Sports Fashion has embarked on an international expansion programme with the acquisition of French sports retailer Chausport SA for €8m, plus fees. The UK group will also inherit net debt of €2m.

Chausport was founded in 1980 and has 78 stores in premium locations in town centres and shopping malls. The company is ba
sed near Lille, and particularly well represented in Northern France.

The current management team headed by CEO Jerome Lepoutre, one of the original founders, will remain with the business. For the year ending 31 December 2007, Chausport had a turnover of 40.7m, profit before tax and exceptional items of 0.6m and gross assets of 17.9m.

"We are very pleased to announce the acquisition of Chausport, which will give us a foothold in a new and sizeable European market. By drawing on the current

management team's expertise, we are confident that this acquisition will bring both financial and strategic benefits in the future," says JD executive chairman Peter Cowgill.

The JD Board expects that the Chausport acquisition will be earnings enhancing after investment in the existing portfolio and in new stores.

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