JD Sports on track for US expansion with $495m DTLR acquisition
A UK sportswear retailer has announced that it is set to acquire an American athletic footwear brand in a deal worth nearly $500m.
JD Sports Fashion has entered into a conditional agreement for the full acquisition of athletic footwear and streetwear apparel brand DTLR Villa, which has 247 stores across 19 US states.
The $495m acquisition is expected to complete during the first quarter of this year, complementing JD Sports’ recent acquisition of Shoe Palace on the west coast of the US.
In the past year, DTLR delivered a profit before tax of $1.6m, and an EBITDA of $45.6m.
Peter Cowgill, executive chairman of JD Sports Fashion, commented: “This is another exciting milestone in the group’s development in the United States.
“Like Shoe Palace, DTLR pride themselves on the deep connection they have with their consumers and the active role they play in the communities that they serve. As such, we intend to retain the DTLR Villa fascia and its proposition.
“The acquisition of DTLR will enhance our presence in the north and east of the United States and will be another important step in the group’s evolution.
“We look forward to closing the transaction and welcoming the DTLR team to the group.”
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