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JD buys French footwear chain for £7m

JD Sports Fashion has bought French sports footwear chain Chausport for €8 million (£7m), marking the retailer’s first foray overseas.

JD Sports Fashion said the acquisition would enable it to expand further into Europe outside of its UK and Ireland base and that Chausport would enhance overall earnings.

JD Sports Fashion executive chairman Peter Cowgill said: “We are very pleased to announce the acquisition which will give us a foothold in a new and sizeable European market. We are confident this acquisition will bring both financial and strategic benefits in the future.”

Chausport was founded in 1980, and has 78 stores in French towns centres and shopping centres, with a particularly strong presence in Northern France.

Over the year to December 31, 2007 Chausport had sales of €40.7m (£36m) and pre-tax profit of €600,000 (£527,000).

Chausport chief executive and founder Jerome Lepoutre will stay at the business.

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