JD Sports has bought the remaining 40% stake in Polish retailer Marketing Investment Group (MIG), making it the sole owner.
The sports fashion retailer originally bought a 60% stake in MIG back in April 2021.
Since the initial acquisition, it has established the MIG fascia across five countries throughout Central and Eastern Europe, running 18 stores.
The Polish company continues trading profitably through other complementary fascias, including Sizeer.
The acquisition, which is subject to competition approval by the European Commission, is expected to be completed no later than the final quarter of this year.
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JD Sports CEO Régis Schultz said: “Acquiring the remaining 40% stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe, the strong foundations for which have been established alongside the outgoing shareholders.
As part of Schulz’s five year growth plan, unveiled earlier this year, JD is aiming to become the “leading global sports-fashion powerhouse”.
The retailer plans to open between 250 to 350 new stores each year as it eyes double digit sales growth and double digital market share in key regions.
It plans to invest between £500m to £600m per year in its growth plan, with 50% to 60% of spend focused on store expansion in underpenetrated markets.
Last month, it agreed to spend £427m to buy out the minority investors of its Iberian business Iberian Sports Retail Group (ISRG)
Back in May, it set out its intention to buy French retailer Courir.
JD Sports also signed its first franchise agreement, a 10-year partnership with Dubai-headquartered GMG, last month as it looks to expand its presence in the Middle East.
As part of the deal, the business will open around 50 stores with the JD fascia in the United Arab Emirates, Saudi Arabia, Kuwait and Egypt by 2028.
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