// JD Sports formally completes acquisition of US retailer DTLR
// DTLR owns 247 shops across 19 US states
// JD Sports’ push into the US began with the acquisition of Finish Line in 2018
JD Sports has officially completed the acquisition of US sportswear and footwear retailer DTLR for $495 million (£360 million).
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 expands to Poland after acquiring controlling stake in MIG
- JD Sports continues US acquisition spree with £355m deal for DTLR
Last month, JD Sports had first announced it entered into a conditional agreement to buy DTLR.
“We are delighted that this transaction, which gives us an enhanced presence in the north and east of the United States, has now formally completed,” JD Sports executive chairman Peter Cowgill said.
“We look forward to working with the experienced management team at DTLR and all our colleagues in the US to further enhance our premium retail experience and become a leading customer destination for sneakers and lifestyle apparel.”
DTLR was previously 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 of the division and will reinvest some of the windfall they receive in the sale back into a new minority stake.
More recently, JD Sports entered into a conditional agreement to acquire a controlling stake in Poland-based Marketing Investment Group (MIG) for an undisclosed amount.
The sportswear giant agreed to purchase a 60 per cent stake in MIG, which trades from 410 stores across nine countries in Central and Eastern Europe.
The company sells a range of sports fashion footwear, clothing and accessories from leading global brands, primarily under the Sizeer and 50 Style fascias.