JD Sports has exercised its right to acquired the remaining 40 per cent shares it didn’t already own in Poland-based Marketing Investment Group (MIG) saying the deal will accelerate the development of JD in Central and Eastern Europe.
In April 2021, UK Sports plc purchased a 60 per cent ownership in MIG. Since then, it has opened 18 JD stores in five countries in Central and Eastern Europe.
MIG also does profitable business through Sizeer and other related fascias, supplying a variety of sportswear, equipment, and accessories from top international brands. MIG brought in over £ 270 million in revenue during the fiscal year that concluded on 31st January 2023.
“Acquiring the remaining 40 per cent stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe, the strong foundations for which have been established alongside the outgoing shareholders,” explained JD Sports CEO Régis Schultz.
Schultz has outlined ambitious expansion plans for JD, saying he is targeting the opening of between 250 and 250 new JD stores across the globe per annum over the next five years.
The group recently revealed its expansion in the Middle East via its first franchise deal with Dubai-based company GMG.
