JD Sports to acquire 60% stake in Marketing Investment Group
British sportswear retailer JD Sports Fashion has signed a conditional agreement for acquiring a 60% stake in Marketing Investment Group (MIG) for an undisclosed price.
Marketing Investment Group, which is headquartered in Krakow, Poland, sells a range of sports fashion footwear, apparel, and accessories. The brands it mainly sells are under the Sizeer and 50 Style fascias.
Established in 1989, Marketing Investment Group operates 410 retail stores and related trading websites in nine countries in Central and Eastern Europe (CEE).
It is currently majority owned by brothers Andrzej Grząka and Zbigniew Grząka.
In the year ended 31 January 2020, Marketing Investment Group posted revenues of around £200 million.
JD Sports Fashion to acquire 60% stake in Marketing Investment Group. Photo courtesy of Samuel Wiki/Wikipedia.org.
The closing of the deal is subject to approval from the competition authorities in Poland and other customary closing conditions.
JD Sports Fashion and Marketing Investment Group expect to close the deal by the end of May 2021.
Peter Cowgill – Executive Chairman of JD Sports Fashion said: “This is an exciting acquisition for JD that will further build on the success of our international development strategy, expanding our operations into Central and Eastern Europe.
“We have observed and admired the development of MIG over a number of years and we are confident that the combination of their highly experienced and knowledgeable management team, together with the expertise of the JD leadership team, will provide the Group with strong foundations from which to successfully optimise the opportunities in the region.”
Last month, JD Sports Fashion signed a conditional agreement for the acquisition of 100% of DTLR Villa, a US-based hyperlocal athletic footwear and apparel streetwear retailer, for $495 million.