British sports fashion chain JD Sports wants to acquire its French sector peer Courir for 520 million euros. Both retailers are highly complementary and will continue to co-exist.
Female audience
JD Sports wants to continue growing in continental Europe and is therefore making a takeover bid for French trainer chain Courir, which operates in six European countries. The retailer has started exclusive talks with Equistone Partners Europe, the investment fund that has owned Courir since 2018, and would pay 520 million euros to take 100% of the shares. The transaction will need approval from European authorities.
The acquisition fits in with the UK chain’s growth ambitions, especially as Courir’s positioning is complementary to JD Sport’s: the French chain mainly targets a female audience. It is therefore envisaged that the Courir brand will retain its own identity and be run as an autonomous business unit, separate from JD Sports’ French operations. Management will remain on board.
30% online
Courir has 313 stores under its own name in France (257), Spain (24), Belgium (22), Portugal (5), the Netherlands (3) and Luxembourg (2). The retailer also has 36 franchise stores in Africa, the Middle East and French overseas territories, and two stores with the Naked brand name in Denmark. Last financial year, the sports chain realised a profit of 47.4 million euros on a turnover of 609.8 million euros.
JD Sports operates more than 3,400 stores in 32 countries. The retailer realised a turnover of 8.6 billion pounds (9.9 billion euros) and a profit of 654.7 million pounds (752.4 million euros) last financial year. 30% of turnover comes from online sales.
