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UK-based sports fashion retailer JD Sports Fashion has concluded the acquisition of French sneaker retailer Courir.
The deal received conditional clearance from the European Commission (EC) on 22 October 2024.
15 Courir stores in France and all six stores in Portugal will be divested to Snipes in the first quarter (Q1) of the fiscal 2026 year (FY26).
Following the transition, these stores will operate under the Courir brand until they are transferred to Snipes, adhering to commitments made to the EC.
In May, JD Sports entered exclusive negotiations to acquire Courir for an enterprise value of €520m ($657m).
The purchase was financed through existing cash reserves and a drawdown on the company's revolving credit facility.
For the year ending 31 December 2023, Courir reported revenues of €725.8m and a profit before interest and tax of €50.3m.
JD Sports CEO Régis Schultz stated: "The completion of our acquisition of Courir is an exciting milestone for our complementary concepts strategy in Europe, and we look forward to working with its experienced management team as we deliver on our growth plans.
“This acquisition will broaden the JD Group's customer reach adding a more female, fashion-conscious and older customer base to complement the group's core customers."
Courir holds one of the leading positions in France's sneaker market. The acquisition strengthens JD Sports' position within Europe.
Currently, Courir operates 323 stores across Belgium, France, Luxembourg, the Netherlands, Portugal and Spain.
There area a further 36 franchise stores under the Courir brand in North West Africa, the Middle East,and French overseas territories, along with three Naked stores offering an elevated concept for women's sneakers.
"JD Sports closes acquisition of French sneaker retailer Courir" was originally created and published by Retail Insight Network, a GlobalData owned brand.
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