// JD Sports acquires US sportswear retailer DTLR in a £355m deal
// JD Sports executive chairman Peter Cowgill said DTLR has a “deep connection” with its customers
// DTLR owns 247 stores across 19 US states
JD Sports has agreed to buy US athletic footwear and apparel retailer DTLR in a $495 million (£355 million) deal following the takeover of the Shoe Palace chain last month.
DTLR owns 247 shops across 19 states, mainly in the north and east of the US.
JD Sports’ push into the US began with the acquisition of Finish Line in 2018, which saw JD take ownership of Finish Line’s 600 stores in the US for $558 million (£400 million).
JD Sports executive chairman Peter Cowgill said DTLR has a “deep connection” with its customers.
“As such, we intend to retain the DTLR Villa fascia and its proposition,” he said.
“The acquisition of DTLR will enhance our presence in the north and east of the US and will be another important step in the group’s evolution.”
JD Sports expects to complete the transaction during the first quarter of this year and is funding the acquisition from existing cash resources and bank facilities.
DTLR is currently majority owned by the companies BRS & Co and Goode Capital.
Its management team leaders, Glenn Gaynor and Scott Collins, will continue as co-chief executives s of the division and will be reinvesting some of the windfall they receive in the sale back into a new minority stake.