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Sports Direct completes sale of Dunlop

Sports Direct has completed the sale of the Dunlop brand to affiliates of Japanese firm Sumitomo Rubber Industries for $137.5m (£112m).

It entered into talks with Sumitomo in December.

Dunlop currently operates in the UK, Europe, Asia (except Japan, Korea and Taiwan), the US and Canada.

For the year to 24 April 2016, Dunlop had combined revenue of £42.64m, gross assets of £41.76m and profit before tax of £4.06m.

As part of the deal Sumitomo  will give Sports Direct a royalty free licence to continue to use the Dunlop brand for workwear and safety wear in its stores. Sumitomo has the option to acquire these rights in the future, subject to certain conditions, for $12.5m (£10.2m).

Sports Direct said the move was “in line with [our] aspiration to become the Selfridges of sports retail”. 

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