New owner will unlock Footasylum’s “full potential”
Germany-based investment company Aurelius Group has acquired sportswear retail group Footasylum. It valued the transaction, which it expects to complete before the end of August, at €45 million. It said it expected Footasylum to generate €340 million in sales in its current business year.
JD Sports acquired Footasylum in 2019, but competition authorities in the UK ordered the group to sell its acquisition on because, the authorities said, the tie-up between the two retail groups meant a reduction in competition and a worse deal for customers.
Aurelius founding partner, Dr Dirk Markus, said: “Footasylum has long been a staple of the UK high street and go-to shop for customers seeking high-end branded sportswear. As a standalone business, Footasylum has the potential to become an innovative retailer of sportswear and we are eager to unlock the company’s full potential.”
