JJB completes Qube acquisition - sportstextiles: Lea SportsTextiles

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JJB completes Qube acquisition

21/07/2008
Sportswear and equipment retailer JJB Sports has completed its acquisition of Qube Footwear Limited from private equity partnership West Coast Capital for £1 in cash.The agreement was signed in April. The 22-store business will form part of JJB's footwear business.

Founded in 2005, Qube has grown rapidly as a niche fashion footwear business with a strong focus on branded product. Its assets recorded in the year ended January 31, 2007, totalled £11.8 million with a pre-tax loss of £6.1 million. Following this, the company has restructured and a small number of loss-making stores have closed.

Chief Executive of JJB, Chris Ronnie, said: "The acquisition of Qube is a further step in our strategy of accessing the sports lifestyle market, whilst maintaining our strategy of being 'Serious about Sport' within our core JJB retail stores. Qube is a rapidly growing business, with excellent potential, which we believe will complement our recent acquisition of OSC and reinforce our presence in this area of the market."


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