JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. (MIG). JD Sports and MIG anticipate completing this acquisition before the end of May 2021, subject to customary closing conditions.
JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. (MIG). JD Sports and MIG anticipate completing this acquisition before the end of May 2021, subject to customary closing conditions.#
Based in Krakow, Poland, and founded in 1989, MIG is currently majority owned by brothers Andrzej and Zbigniew Grzaka. The business operates 410 retail stores and associated trading websites across nine countries in Central and Eastern Europe, selling a wide range of sports fashion footwear, apparel and accessories from leading global brands primarily under the Sizeer and 50 Style stores. In the year ended 31 January 2020, MIG generated revenues of approximately £200 million.
JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. (MIG). JD Sports and MIG anticipate completing this acquisition before the end of May 2021, subject to customary closing conditions.#
"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. 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," said Peter Cowgill, executive chairman of JD Sports Fashion Plc.
JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. (MIG). JD Sports and MIG anticipate completing this acquisition before the end of May 2021, subject to customary closing conditions.#
"We look forward to closing the transaction and welcoming the MIG team to the Group," Cowgill added.
JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has entered into a conditional agreement for the acquisition of 60 per cent of Marketing Investment Group S.A. (MIG). JD Sports and MIG anticipate completing this acquisition before the end of May 2021, subject to customary closing conditions.#
Fibre2Fashion News Desk (RKS)
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