JD Sports to acquire French sportswear retailer Courir
JD Sports has agreed to acquire French sportswear retailer Courir in a €520 million deal.
Courir is currently majority owned by Equistone Partners Europe which bought the business in 2018 following a carve-out from Groupe Go Sport.
It currently has 313 stores across six countries in Europe, of which 191 are based in France. In addition, it has 36 shops which trade under franchise agreements as Courir in North West Africa, Middle East and French overseas territories, and two stores which trade as Naked in Denmark.
Régis Schultz, chief executive of JD Sports, said: “We are delighted to announce the proposed acquisition of Courir, a business that is held in high regard in the European sportswear community. We look forward to concluding the contemplated transaction, welcoming the Courir team to the group and then working with management to fulfil Courir’s global potential.
“Investing in quality complementary concepts whilst furthering the growth of JD itself is a key strategic pillar for the group and one which we will continue to pursue in the future.”
In the 52 weeks to 31 December 2022, Courir had consolidated revenues of €609.8 million, a profit before interest and tax of €47.4 million and gross assets of €678.4 million.
In accordance with French law, Courir’s management is now required to embark on a consultation with relevant employee representative bodies prior to being able to enter into a binding sale and purchase agreement for the transaction.