- JD confirms €26.5m deal to acquire Dutch retailers
- Aktiesport and Perry Sport have 187 stores across the Netherlands
- JD boss Peter Cowgill says part of ambition to boost European footprint
JD Sports has struck a €26.5m (£20.9m) deal to acquire beleaguered Dutch chains Perry Sport and Aktiesport from Unlimited Sports Group.
In a stock exchange announcement today, JD said it has exchanged contracts via its newly incorporated subsidiary Sports Unlimited Retail for the acquisition of the “trading assets and trade” of the two retailers.
The deal, which first emerged last week, has come about after Unlimited Sports Group was declared bankrupt last month.
Aktiesport and Perry Sport have 187 stores across the Netherlands – 55 of the stores will close “imminently” after the leases were terminated.
JD has been eyeing European expansion and last year boss Peter Cowgill vowed to have a store in every major European city.
JD Sports executive chairman Peter Cowgill said: “We are delighted with the acquisition of these well-established retail businesses, which will strengthen our presence in the Netherlands, in line with our ambition to increase our European footprint.”
Aktiesport and Perry Sport posted combined sales of €159.4m (£125.8m) in 2014, with pre-tax profits of €200,000.