JD Sports buys $28m Sprinter stake
UK sportswear retailer JD Sports Fashion has bought a €20m ($28m) purchase of a stake in Sprinter, a Spanish sportswear retailer.
JD’s €20m cash purchase on 20 June 2011 of a 50.1% stake in Sprinter is through its subsidiary JD Sprinter Holdings. The remaining 49.9% of Sprinter’s shares are held by Sprinter founders the Segarra family and the Bernad family, who have been investors in Sprinter for 15 years.
“It is our intention that the Sprinter store chain will continue to grow and a joint venture is being established?.?.?.?to roll out JD as a more fashion oriented retail fascia in Spain, emulating the UK format,” JD said in a statement.
Peter Cowgill, JD’s executive chairman, said the acquisition was aimed at “expanding our European retail presence and increasing our exposure to a broader portfolio of premium brands”.
