Companies

JD Sports completes acquisition of Courir

Dec 2, 2024 United Kingdom

The UK-based sportswear retailer has completed the acquisition of France's Groupe Courir, thus strengthening its position in the European market. The deal was first announced in May 2023

Following the receipt of conditional clearance from the European Commission in October and the satisfaction of all other outstanding conditions, JD Sports has completed the acquisition of Groupe Courir. The transaction was valued at 520 million euros and was funded through a combination of existing cash and a drawdown on the revolving credit facility.

“The completion of our acquisition of Courir is an exciting milestone for our Complementary Concepts strategy in Europe and we look forward to working with its experienced management team as we deliver on our growth plans. This acquisition will broaden the JD Group’s customer reach adding a more female, fashion-conscious and older customer base to complement the Group’s core customers”, commented Régis Schultz, CEO of the company.

Courir is a market leader in sneakers in France (according to Circana) and currently operates 323 stores under the same banner in France, Spain, Belgium, the Netherlands, Portugal and Luxembourg and three more under the Naked banner (focusing on the woman segment). It also has more 36 stores trading as Courir under franchise agreements in Northwest Africa, the Middle East and French overseas territories.

Going forward, “we look forward to working with Pierre Chambaudrie and his team to develop Courir further in Europe”, the company said in a statement. However, it should be noted that under the European Commission’s conditional clearance decision, 15 of Courir’s stores in France and all six stores in Portugal will be divested to Snipes in the first quarter of the 2026 financial year.

Image Credits: saint-sebastien.com

France United Kingdom Acquisitions Companies Footwear JD Sports Management Sneakers