JD Sports bids for rival retail group - sportstextiles: Lea SportsTextiles

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JD Sports bids for rival retail group

18/03/2019
Sports retail group JD Sports has issued an offer for all the outstanding shares of another chain of athletic footwear and apparel stores, Footasylum.

In February, JD Sports acquired 18.7% of Footasylum shares. It has made an increased offer now for the remaining shares.

JD Sports chief executive, Peter Cowgill, said on making the announcement: “We are pleased to make this offer for Footasylum, which is very complementary to our existing businesses in the UK. We believe that there will be significant operational and strategic benefits through the combination of the very experienced and knowledgeable management team at Footasylum and our own expertise.”

Footasylum was founded in 2005 and currently has 69 stores across the UK.


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