// JD Sports sets out intentions to acquire French sportswear retailer Groupe Courir
// The £452.7m takeover would be the first acquisition under the group’s expansion plans.
JD Sports has entered exclusive talks to buy French sportswear retailer Groupe Courir for an enterprise value of £452.7m (€520m).
The acquisition would be the first since the group set out its five-year growth plan in February.
Courir has from 313 stores across six countries in Europe and is majority owned by Equistone Partners Europe.
In accordance with French law, Courir’s management will start a consultation process with its employee representative bodies before a binding sale and purchase agreement can be reached.
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JD Sports said that due to approval from the European Commission, it does not expect the deal to be complete before the second half of 2023.
It added it would pay £282.7m (€325m) for the company through existing cash resources and £169.6m (€195m) through debt.
JD chief executive Régis Schultz said: “Investing in quality complementary concepts whilst furthering the growth of JD itself is a key strategic pillar for the Group and one which we will continue to pursue in the future.
“We look forward to concluding the contemplated transaction, welcoming the Courir team to the Group and then working with management to fulfil Courir’s global potential.”
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