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JD Sports Fashion to acquire Finish Line for $558m

RBR Staff Writer Published 27 March 2018

European sports brands retailer JD Sports Fashion has agreed to acquire athletic retailer Finish Line in a deal worth about $558m.

JD Sports Fashion will acquire 100% of The Finish Line’s shares at $13.5 in cash. 

The acquisition represents a significant physical and online retail presence for JD with direct access in the US which, the company had long identified as an attractive market with growth opportunity.

Finish Line and JD are expected to create a global, multichannel retailer for sports, fashion and outdoor brands, which can embrace both online and in-store digital technology.

The combined purchasing power of Finish Line and JD, along with the alignment with major international sportswear brands in North America, is anticipated to allow the enlarged group to bring a multi-channel retail proposition to the US market.

Finish Line lead director of board of directors and special committee chairman Bill Carmichael said: “The Special Committee appointed by the Finish Line board recommended and the board voted unanimously to approve entering into this merger agreement.

“With JD, Finish Line achieves immediate value for its shareholders and moves into a stronger position to compete as part of a global enterprise that leads in our industry.”

JD executive chairman Peter Cowgill said: "Finish Line has many similarities to JD with a strong bricks and mortar offering complemented by an advanced and well-invested digital platform. We are looking forward to working with Finish Line’s experienced management team to bring best in class retail theatre to the US.”

JD stated that the combined knowledge of the two companies in the retail market and its product and marketing relationships with global brand partners can benefit its customers and support the continued future growth of the company.

Image: JD Sports to acquire Finish Line. Photo: Courtesy of etaphop photo/FreeDigitalPhotos.net.