JD Sports acquires 60% stake in Total Swimming Group
JD Sports has revealed that it has acquired a 60% share in Total Swimming Group, a company founded by Olympic swimmers Steve Parry, Rebecca Adlington and Adrian Turner.
The company was established to make swimming more accessible and includes the Swim! multi-site operator of children’s learn to swim centres. Total Swimming generated revenue of £8.6 million in its 2021 financial year.
JD Sports purchased the stake for an initial cash consideration of £11.1 million with a maximum of £4 million of deferred consideration that is “contingent upon future performance criteria and certain closing conditions”.
The company said the acquisition has broadened its leisure interests, which now include gyms and pools.
The acquisition was announced in JD Sports’ full year results in which it confirmed it had achieved a record pre-tax profit before exceptional items of £947.2 million in the 52 weeks to 29 January.
