JD Sports acquires majority stake in Portugal’s Sportiberica
JD Sports is moving forward with its European expansion programme with the acquisition of a majority stake in the Portuguese operator of The Athlete’s Foot, an international retail chain selling sports inspired footwear, apparel and accessories.
With this acquisition, JD Sports will own and operate 12 stores in Portugal, which are spread between Lisbon, Porto, Coimbra and Portimão. This store portfolio will be under the management of JD Sports’ Spanish subsidiary, which will lead a refurbishment plan for all the sites over the next 12 months.
The deal will significantly expand JD Sport’s presence on the Iberian Peninsula, taking the number of stores to 32.
Further stores are expected to be added in the future.
The move is part of the UK company’s ongoing efforts to expand its European footprint. Earlier this year, the retailer acquired the trading assets of Dutch chain Aktiesport and Perry Sport.
The group has over 900 stores in total, with more than 360 in the UK and over a 100 in Europe.
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