JD Sports activities to purchase majority stake in Poland’s Advertising Funding Group

JD Sports activities Style Plc, one of many world’s main retailers of sports activities, vogue and outside manufacturers, has entered right into a conditional settlement for the acquisition of 60 per cent of Advertising Funding Group S.A. (MIG). JD Sports activities and MIG anticipate finishing this acquisition earlier than the tip of Might 2021, topic to customary closing circumstances.

 

Based mostly in Krakow, Poland, and based in 1989, MIG is at present majority owned by brothers Andrzej and Zbigniew Grzaka. The enterprise operates 410 retail shops and related buying and selling web sites throughout 9 nations in Central and Japanese Europe, promoting a variety of sports activities vogue footwear, attire and equipment from main world manufacturers primarily underneath the Sizeer and 50 Model shops. Within the 12 months ended 31 January 2020, MIG generated revenues of roughly £200 million.

 

“That is an thrilling acquisition for JD that may additional construct on the success of our worldwide improvement technique, increasing our operations into Central and Japanese Europe. We have now noticed and admired the event of MIG over quite a few years and we’re assured that the mix of their extremely skilled and educated administration staff, along with the experience of the JD management staff, will present the Group with sturdy foundations from which to efficiently optimise the alternatives within the area,” stated Peter Cowgill, government chairman of JD Sports activities Style Plc.

 

“We sit up for closing the transaction and welcoming the MIG staff to the Group,” Cowgill added.

 

Fibre2Fashion Information Desk (RKS)

JD Sports activities Style Plc, one of many world’s main retailers of sports activities, vogue and outside manufacturers, has entered right into a conditional settlement for the acquisition of 60 per cent of Advertising Funding Group S.A. (MIG). JD Sports activities and MIG anticipate finishing this acquisition earlier than the tip of Might 2021, topic to customary closing circumstances.

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