Last checked at 1 Aug 2022 07:00
1 August 2022
JD Sports Fashion Plc
Disposal of Footasylum Limited
JD Sports Fashion Plc ('JD' or the 'Group'), one of the world's leading retailers of sports, fashion and outdoor brands, announces that on 29 July 2022, it exchanged contracts to sell Footasylum Limited ('Footasylum') and its associated subsidiaries to AURELIUS Group ('AURELIUS') for £37.5 million.
The sale has been agreed in accordance with the final undertakings issued by the Competition and Markets Authority ('CMA') on 14 January 2022, following its decision to prohibit JD's acquisition of Footasylum last year. JD has cooperated with the CMA throughout the divestment process, including ensuring that the purchaser was acceptable to the CMA and met certain key criteria set out within the final undertakings. The sale is anticipated to complete in the coming weeks with no conditionality.
Kath Smith, Interim CEO of JD, said:
"I would like to sincerely thank the teams at AURELIUS and Footasylum who worked collaboratively with the CMA to agree this transaction. We wish both parties every success for the future."
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Kath Smith, Interim Chief Executive Officer
Neil Greenhalgh, Chief Financial Officer
FGS Global Tel: 0207 251 3801
Rollo Head
Jenny Davey
James Thompson