JD Sports Fashion has emerged triumphant from the bidding war over branded footwear etailer Cloggs.
In the past fortnight, three potential buyers had been circling the business – JD, etailer The Hut Group and a third, undisclosed bidder known to have an interest in the footwear sector.
It was confirmed today (February 13) that the sportwear company had acquired Cloggs out of administration for an undisclosed sum.
The business will continue to be based in Birmingham and the current management team is being retained.
In the run-up to the acquisition, JD was understood to be keen to buy Cloggs’ debt, which this deal is understood to include.
Peter Cowgill, executive chairman of JD Sports Fashion, said: “We are very pleased to be supporting Cloggs. Its branded casual footwear offer includes many leading and famous brands and we look forward to investing in the development of the website and working with the brands to extend its offer.”
The deal comes hot on the heels of JD’s acquisition of young fashion brand Gio-Goi.
Cloggs’ former managing director Damian Scarlett left the etailer at the end of last year to set up his own ecommerce consultancy, called Jellywall. Cloggs co-founder and commercial director Chris Thomas has since taken over from Scarlett as managing director.