The acquisition of Hibbett aligns with JD Sports’ strategic growth plans in North America, where the combined revenues of both companies will reach approximately £4.7 billion, accounting for 40% of the group’s total sales. Régis Schultz, CEO of JD Sports Fashion Plc, expressed enthusiasm for the acquisition, stating that it complements JD’s existing footprint by strengthening its presence in the southeastern US and providing a solid platform for the expansion of the JD fascia in the region. Schultz highlighted the financial benefits of the deal, expecting it to be earnings accretive from the first year onwards, before considering potential synergies. Furthermore, JD will bolster its partnerships with key brands in the world’s largest sportswear market. Hibbett’s experienced management team will remain with the enlarged business, led by President and CEO Michael E. Longo and Executive Vice President of Merchandising Jared S. Briskin. To finance the acquisition and refinance Hibbett’s existing debt, JD will utilize $300 million in cash and secure a $1 billion extension to its current banking facilities. The transaction is anticipated to conclude within the next three months.
JD Sports to Acquire Hibbett in $1.1 Billion Deal, Expanding American Operations
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