JD Sports Fashion PLC has successfully acquired the remaining 40% minority stake in Marketing Investment Group S.A. (MIG), making it the sole owner of the company. The acquisition has been approved by the European Commission, allowing JD to simplify its European operations and expedite the expansion of the JD brand in Central and Eastern Europe. In the financial year ending January 2024, MIG generated approximately £270m in revenues and operated 403 stores across 13 countries, including 23 JD stores.
This acquisition marks a significant step for JD Sports Fashion PLC, as it streamlines its operations and provides a strategic opportunity for further brand expansion. The move aligns with the company's growth strategy and demonstrates its commitment to strengthening its presence in the European market. With the completion of this acquisition, JD is poised to leverage its enhanced control over MIG to drive growth and capitalize on the market potential in Central and Eastern Europe.
For further information, JD Sports Fashion PLC can be contacted at 0161 767 1000. The company's advisors for the acquisition include Investec Bank Plc, Peel Hunt LLP, and FGS Global. This acquisition is expected to have a positive impact on JD's position in the European market and is a significant development in the company's growth trajectory.
This acquisition is a strategic move for JD Sports Fashion PLC, providing it with the opportunity to strengthen its foothold in the European market and accelerate the expansion of the JD brand. With the acquisition of MIG, JD is well-positioned to drive growth and capitalize on the market potential in Central and Eastern Europe.