JD Sports acquires Hibbett
Athletic fashion retailer Hibbett has announced that JD Sports will acquire all outstanding shares in a deal worth approximately $1.1 billion.
Mike Longo, President and CEO of Hibbett, stated, "This milestone reflects the dedication of our teams and the strength of our brands. We look forward to joining forces with JD Sports to better serve our customers."
Anthony Crudele, Chairman of Hibbett's Board of Directors, added, "This transaction creates immediate value for our stockholders while ensuring our brands continue to thrive."
Régis Schultz, CEO of JD Sports, expressed excitement about the acquisition, saying, "This move strengthens our position as a global leader in athletic retail and expands our presence in the U.S."
Mike Longo will continue as President and CEO of Hibbett, while Jared Briskin assumes the role of COO. Hibbett reaffirms its commitment to keeping its headquarters in Birmingham, Alabama.
