Rugby brand Canterbury has been formally acquired by branded business Pentland Group from JD Sports Fashion with the deal winning JD shareholders’ approval.
Drapers reported in August that Pentland looked set to acquire Canterbury from JD in a deal thought to be worth around £22.7m.
As part of the deal involving the sale of Canterbury to Pentland, JD has acquired young fashion brand One True Saxon from Pentland for £50,000.
Pentland, which owns brands including Speedo, Berghaus and Boxfresh, also holds a 57.47% share in JD.
Canterbury is the official kit partner to the Springboks and Scotland rugby teams and it has also recently secured a long-term partnership to become the official kit partner to the English Rugby Football Union.
“This is an exciting opportunity to develop the world’s original and leading rugby brand,” said Pentland chief executive Andy Rubin.
“It’s an important addition to our portfolio of global brands in sports, outdoor and fashion.
“We will now work together with the Canterbury team on how to continue to build the brand in the lead-up to the 2015 Rugby World Cup and beyond.”
Canterbury chief executive Chris Stephenson added: “Pentland is in the business of building global brands and has an impressive international trading network.
“We will be working closely with the team at Pentland to develop further our brand positioning, product offer and international business opportunities.”