JD Sports Fashion has confirmed the conditional acquisition of 187 shops from two Dutch sportswear chains for €26.5m (£20.9m)
The deal includes 187 stores under the Perry Sport and Aktiesport fascias, both of which are part of parent company Unlimited Sports Group, which was declared bankrupt on February 23.
The assets of the companies include inventories, fixtures and fittings and intellectual property. In accordance with Dutch Law, the purchase is subject to clearance by the Authority for Consumers and Markets (ACM) in the Netherlands, as JD Sports already has 16 JD shops, and one for its footwear and clothing fascia Size?, in the market.
Of the 187 stores, 55 will close imminently following the termination of the lease by the bankruptcy trustee.
For the year to December 31 2014, the combined Aktiesport and Perry Sport businesses delivered sales of €159.4m (£125.8m), an operating profit of €1.5m (£1.1m), and a profit before tax of €200,000 (£157,800).
Peter Cowgill, executive chairman of JD Sports, said: “We are delighted with the acquisition of these well-established retail businesses, which will strengthen our presence in the Netherlands, in line with our ambition to increase our European footprint.”
When JD Sports opened its Oxford Street flagship last July, Cowgill revealed ambitions to open a store in every major city in Europe.