JD Sports Fashion’s shareholders have wholeheartedly endorsed the acquisition of a substantial 49.98% stake in the Iberian Sports Retail Group (ISRG), marking a significant step in a cash deal valued at €500.1 million (£432.41 million).
This momentous decision was reached during a decisive general meeting, granting approval to secure nearly half of ISRG’s shares from Balaiko Firaja Invest. The finalization of this strategic transaction is poised to occur within the week.
This strategic acquisition is a testament to JD’s unwavering global aspirations. ISRG, a sports retail juggernaut, boasts a formidable portfolio of over 460 stores across Europe, featuring prominent brands such as JD in Iberia, Sprinter in Spain, Sport Zone in Portugal, and Aktiesport and Perry Sport in the Netherlands. Furthermore, ISRG holds a commanding 98% stake in the thriving Deporvillage online enterprise and a controlling 50.1% share in the dynamic Bodytone fitness equipment venture.
For the fiscal year ending on January 31, 2023, ISRG reported a substantial increase in revenues, reaching €1.347 billion, a noteworthy rise from €1.037 billion in 2022. The company achieved a commendable pre-tax profit of €70.3 million in 2023, slightly lower than the €73.2 million recorded in the previous year.
JD’s vision for this acquisition is clear: «We see promising opportunities to further develop Sprinter and Sport Zone, and we recognize the integral role of the ISRG team in Iberia in expanding the JD brand in the Iberian region and beyond.»
Régis Schultz, CEO of JD, shared his perspective: «ISRG stands as a highly accomplished business, firmly established as a major player in Iberia’s sports retail landscape. This strategic alignment unlocks significant potential for accelerated growth.
