UK retailer JD Sports finalizes Hibbett Inc acquisition

26 Jul '24

1 min read

UK retailer JD Sports finalizes Hibbett, Inc. acquisition

Pic: Business Wire

Insights

Hibbett Inc has been acquired by JD Sports Fashion plc as of July 25, 2024, and will no longer be a stand-alone publicly traded company.
Mike Longo will remain President and CEO, and Jared Briskin will become COO.
Hibbett will keep its Birmingham, Alabama headquarters. Longo emphasised growth opportunities, strong vendor relationships, and a complementary store.

Hibbett, Inc. (Nasdaq/GS: HIBB), an athletic-inspired fashion retailer, announced the completion of the Company’s acquisition by JD Sports Fashion plc (“JD”), effective July 25, 2024.

Hibbett is now part of JD and will cease to be a stand-alone publicly traded company. Mike Longo will continue as President and Chief Executive Officer of Hibbett and Jared Briskin will assume the role of Chief Operating Officer. The Company will maintain its corporate headquarters in Birmingham, Alabama.

Commenting on the completion of the transaction, Mr. Longo stated, “We are excited to complete this transaction and join JD. Hibbett and City Gear will continue to have significant growth opportunities thanks to our strong vendor relationships with highly coveted brands, best-in-class omni-channel platform and efficient supply chain operations. In addition, our store footprint is complementary and incremental to the other existing JD locations in North America. Above all, we will continue to provide an outstanding consumer experience in underserved communities by offering a unique and compelling product mix that appeals to our fashion-conscious shoppers.”