JD Sports completes acquisition of Hibbett

British retail group JD Sports Fashion Plc has completed the takeover of the US sporting goods supplier Hibbett Inc., which was announced in April.

CEO Régis Schultz once again emphasized the importance of the transaction for JD Sports. “The completion of the acquisition of Hibbett is an important strategic milestone for us in North America and we look forward to working with the experienced management team to implement our growth plans in the largest sportswear market in the world,” he said in a statement.

Hibbett claims that Mike Longo will remain in his role as President and CEO of the business, operating under the JD Sports brand. The Chief Operating Officer role will be assumed by Jared Briskin (COO).

For the takeover, JD Sports paid almost € 1.0 million (about 1.1 billion ). At the beginning of May, Hibbett operated 1,169 stores in 36 US states under the Hibbett and City Gear formats, according to the new owner. In its most recent fiscal year, 2023–2024, the retailer made sales of over US $ 1.73 billion  (€ 1.60 billion). Profit before taxes came to US $ 132 million , while earnings before interest, taxes, depreciation, and amortisation (EBITDA) came to US $ 186 million .