// JD Sports expands to Poland with purchase of 60% stake in MIG
// MIG trades from 410 stores across 9 countries in Central and Eastern Europe, mostly under Sizeer & 50 Style chains
// JD Sports and MIG expect to complete the acquisition before the end of May
JD Sports has 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.
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In the year to January 31 last year, MIG’s revenues came in at £200 million.
JD Sports and MIG expect to complete the acquisition before the end of May.
While the size of the transaction was not disclosed, JD Sports said put and call options were agreed to enable exit opportunities for the sellers with whom it would work in partnership.
“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”, JD Sports executive chairman Peter Cowgill said.
“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.
“We look forward to closing the transaction and welcoming the MIG team to the group.”