JD Sports has completed its acquisition of Courir for €520m (£452m), approved by the European Commission.
- Courir operates 323 stores across multiple European countries and has plans for divestiture.
- A conditional clearance requires the sale of specific Courir stores to Snipes.
- Régis Schultz comments on the strategic customer reach of the acquisition.
- JD Sports shows increased revenue but projects lower profits due to mild weather.
JD Sports Fashion has successfully finalised its acquisition of the French sportswear and footwear company, Courir, marking a significant strategic expansion for the British retailer. The deal, valued at €520 million (£452 million), received clearance from the European Commission, allowing JD Sports to integrate Courir’s extensive network into its operations.
Courir boasts a substantial presence with 323 stores spread across France, Spain, Belgium, the Netherlands, Portugal, and Luxembourg. Additionally, it operates three specialty stores known as Naked, which cater specifically to women’s sneaker needs, and runs 36 franchise outlets across regions including north-west Africa, the Middle East, and French overseas territories, expanding its international footprint.
Under the European Commission’s conditional approval issued on 22 October 2024, JD Sports is mandated to divest 15 Courir stores located in France, along with all six outlets in Portugal, to the German company Snipes by the first quarter of 2026. This condition is part of regulatory compliance required to maintain market competition levels.
Régis Schultz, CEO of JD Sports Fashion, highlighted the acquisition’s strategic importance by noting, “This acquisition will broaden the JD Group’s customer reach, adding a more female, fashion-conscious and older customer base to complement the group’s core customers.” This strategic move is anticipated to diversify JD Sports’ demographic reach, enhancing its market position.
The financial performance of JD Sports has been impressive over recent months, with revenues reaching £5 billion for the 26 weeks ending 3 August 2024, marking a 5.2% increase compared to the same period last year. Despite this positive revenue growth, the company has forecasted profits at the lower end of its guidance range, attributing this to the unseasonably mild weather experienced in October.
JD Sports’ acquisition of Courir represents a comprehensive strategy to diversify its market and reach new customer demographics.
