JD Sports, the leading British sportswear retailer, has announced the acquisition of its American counterpart, Hibbett, for a substantial $1.1 billion (£878 million). This strategic move is expected to significantly accelerate JD’s growth in the lucrative North American market. The acquisition will expand JD’s presence in the US by adding Hibbett’s extensive network of 1,169 stores across 36 states. Furthermore, the deal will bolster JD’s relationships with major suppliers like Adidas and Nike.
JD Sports Fashion, the UK’s largest sportswear retailer, has announced its plans to acquire Hibbett, an American athletic fashion retailer, for approximately $1.08 billion. This move aims to broaden JD Sports’ presence throughout the southeastern United States. The acquisition will significantly boost JD Sports’ North American revenues and increase the region’s share of total sales from 32% to 40%. The takeover is expected to improve the British company’s earnings and generate cost savings of at least $25 million in the first full year following the purchase.
