JD Sports to sell Sports Unlimited Retail to subsidiary
JD Sports has agreed to sell Sports Unlimited Retail to Iberian Sports Retail Group, its 50.02% Spanish subsidiary, for €16.5 million.
Based in the Netherlands, Sports Unlimited Retail operates under the Aktiesport and Perry Sport fascias.
In a statement, JD Sports said ISRG would be better placed to drive growth and higher returns for the business due to it being more focused on the sporting goods sector than the core JD brand. However, as the parent to ISRG, JD Sports will continue to make strategic decisions regarding the company’s future.
Peter Cowgill, JD Sports executive chairman, said: “We have an excellent management team at ISRG and, having successfully integrated the Sport Zone business into its operations, this is the right time for ISRG to further expand its geographical reach. By consolidating our sporting goods businesses under the ISRG umbrella, we are absolutely confident that the transfer of SUR to ISRG will bring long term development opportunities to both the team at SUR and their international brand partners.”
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