JD Sports announces acquisition of Canterbury Europe Limited
The brand, goodwill and fixed assets have been acquired for £6.5 million in cash.JD Sports Fashion Plc has acquired the key trading assets and trade of Canterbury Europe Limited (in administration) along with the global rights to the world famous heritage rugby brand 'Canterbury' and 'Canterbury of New Zealand'.
The acquisition means that JD now owns two rugby brand businesses following the acquisition of Kooga Rugby Limited on 3 July 2009. JD believes that these branded wholesaler acquisitions can be developed profitably and that the global intellectual property rights will generate royalty income.
The Canterbury brand was established in New Zealand over 100 years ago and has become the world's foremost rugby apparel brand, distributing both technical and lifestyle product. It is the current brand shirt sponsor of the international rugby union teams of South Africa and Australia and of many leading clubs worldwide.
Peter Cowgill, Executive Chairman of JD, said: 'We are delighted with the acquisition of the Canterbury and Kooga brands, which will further diversify the Group's overall interests in the sports and related leisurewear markets.'
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