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JD Sports is selling Sports Unlimited Retail

Jun 4, 2021 United Kingdom
JD Sports is selling Sports Unlimited Retail
The British sports-fashion retail company is selling Sports Unlimited Retail to Iberian Sports Retail Group, its 50.02% owned subsidiary based in Spain. The deal should amount to 14 million British pounds (roughly 16.5 million euros)
"We have an excellent management team at ISRG and, having successfully integrated the Sport Zone business into its operations, this is the right time for ISRG to further expand its geographical reach. By consolidating our sporting goods businesses under the ISRG umbrella, we are absolutely confident that the transfer of SUR to ISRG will bring long term development opportunities to both the team at SUR and their international brand partners", commented Peter Cowgill, Executive Chairman.

According to JD Sports the rationale behind the sale is that Iberian Sports Retail Group is more focused on the sporting goods sector than the core JD Sports brand. The British retail player said it has agreed non-binding headline terms for the disposal of Sports Unlimited Retail, which is a wholly owned company based in The Netherlands operating under the Aktiesport and Perry Sport fascias.

However, as the majority owner of Iberian Sports Retail Group, JD Sports would continue to make strategic decisions regarding Sports Unlimited Retail’s future

The sale is expected to be completed by the 30th of June.



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