JD Sports announced on Thursday that it has completed its acquisition of the 40 per cent minority stake in Marketing Investment Group SA (MIG) and is now the 100 per cent sole owner.
It had first purchased a 60 per cent share in MIG in 2021, and the deal was finalised when the European Commission ruled that it was consistent with the domestic market.
JD stated that it had “simplified further its European operations and created the opportunity to accelerate the rollout of the JD brand in Central and Eastern Europe” as a result of assuming complete control of MIG.
MIG’s revenue for the fiscal year ending in January 2023 was around £ 270 million. Additionally, it had 403 locations operating in 13 countries by the end of the previous year, including 23 JD stores.
In recent times, JD Sports has been a significant global buyer, having acquired complete control of companies in which it held minor holdings.
For example, in a cash transaction valued at € 500.1 million last year, it acquired nearly fifty percent of Iberian Sports Retail Group (ISRG) that it did not already control.
