Thu, 03 Feb 2011 | BUSINESS SALE
JD Sports Fashion has announced that it may acquire its competitor JJB Sports, and purchase the commercial property used by the firm.
The sports chain released a statement confirming that it is in "early stage discussions with the board of JJB Sports in relation to making an offer" for the company and its commercial premises.
JJB Sports has been having difficulties maintaining its position within the sports equipment and sportswear retail market for some time. Since its formation a decade ago, the firm has built up a portfolio of 150 commercial premises across the country.
Possible buyer JD Sports Fashion, operates the JD Sports, Scotts, Size? and Bank brands from 500 commercial premises located all over the UK and the Republic of Ireland. It has expanded rapidly since its formation in 1981 and now also runs the Chausport chain of shops in France.
JD said that, at this point in time, "there can be no certainty that an offer will be made", and that the deal terms had yet to be agreed upon.
If the acquisition does go ahead, it will be the second major purchase JD Sports has made in the last few months. Last month, the firm acquired Champion, the loss-making Irish store chain, for what was described as a 'nominal sum.'
Chairman of JD, Peter Cowgill, said, "The board expects that the Champion acquisition will be earnings enhancing in future years after investment in the store portfolio and the realisation of operational synergies."
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