JD Sports Fashion Plc Acquisition of additional holding in Deporvillage (9854C)
October 14 2022 - 7:27AM
UK Regulatory
TIDMJD.
RNS Number : 9854C
JD Sports Fashion Plc
14 October 2022
14 October 2022
JD Sports Fashion Plc
('JD' or the 'Group')
Acquisition of additional holding in Deporvillage
Further to the Group's announcement on 28 June 2021, JD Sports
Fashion Plc, a leading retailer of sports, fashion and outdoor
brands, announces that earlier today, Iberian Sports Retail Group
SL ('ISRG'), the Group's existing 50.02% intermediate holding
company in Spain, acquired an additional 18% holding in the issued
shares in Deporvillage SL ('Deporvillage') from Xavier Pladellorens
and Àngel Corcuera, (the 'Co-Founders') for cash consideration of
EUR19.8 million (the 'Transaction').
Deporvillage was founded in 2010 and is based in Manresa in
Catalonia, Spain. Deporvillage is an online sports retailer
specialising in cycling, running, outdoor, and other sports
categories. It is currently the number one online sports retailer
by market share in Spain, and has a well-established presence in
Italy, Portugal and France.
Following the Transaction, ISRG own 98% of Deporvillage with the
Co-Founders retaining a 2% interest. As part of the Transaction,
the Co-Founders will, following a transition period, step away from
the management of the business.
ISRG and the Co-Founders have also entered into put and call
options over the Co-Founders' remaining 2% interest in
Deporvillage. The consideration payable for this remaining 2%
holding has been capped.
By virtue of the fact that the Co-Founders were substantial
shareholders and are directors of Deporvillage, the Transaction and
the entering into of the capped put option constitutes a
transaction with related parties with the Transaction classified as
a smaller related party transaction pursuant to Listing Rule
11.1.10.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Andrew Higginson, Non-Executive Chair
Régis Schultz, Chief Executive Officer
Neil Greenhalgh, Chief Financial Officer
FGS Global Tel: 0207 251 3801
Rollo Head
Jenny Davey
James Thompson
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END
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