JD Sports has agreed to acquire French sportswear retailer Courir in a €520 million deal.
Courir is currently majority owned by Equistone Partners Europe which bought the business in 2018 following a carve-out from Groupe Go Sport.
It currently has 313 stores across six countries in Europe, of which 191 are based in France. In addition, it has 36 shops which trade under franchise agreements as Courir in North West Africa, Middle East and French overseas territories, and two stores which trade as Naked in Denmark.
In the 52 weeks to 31 December 2022, Courir had consolidated revenues of €609.8 million, a profit before interest and tax of €47.4 million and gross assets of €678.4 million.
In accordance with French law, Courir’s management is now required to embark on a consultation with relevant employee representative bodies prior to being able to enter into a binding sale and purchase agreement for the transaction.
