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JD Sports to scale up in Iberia with Sports Zone

JD Sports has announced plans to “combine” its Spanish and Portuguese divisions with Sports Zone business Sonae, one of the largest sports retailers in the region.

The companies have agreed a “memorandum of understanding” outlining plans for JD’s Spanish and Portuguese divisions, JD Sprinter Holdings, would partner with Sonae to create a new entity, Iberian Sports Retail Group.

The JD Sports, Sonae and the family shareholders of JD Sprinter, will have shareholdings of around 50%, 30% and 20%, respectively.

The partnership would create the second-largest sports retailer in the region, with 287 stores and an estimated combined turnover of €450m (£390m).

JD Sports said the tie-up will generate further scale, momentum and resources to continue the current growth of the group.

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