# Britain’s JD Sports to buy France’s Courir in $572 million deal Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-05-09 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: JD Sports buys France’s Courir in $572 million deal Meta Description: JD Sports Fashion announces plans to purchase Groupe Courir for 520 million euros, marking a major expansion move for the UK retailer. URL: https://financedigest.com/britains-jd-sports-to-buy-frances-courir-in-572-million-dealhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-05-09t063936z1lynxmpej48063rtroptp4jd-sports-results-1736814045010-compressed.jpg) # Britain’s JD Sports to buy France’s Courir in $572 million deal (Reuters) -JD Sports Fashion has proposed buying France’s Groupe Courir for an enterprise value of 520 million euros ($572 million), in what would be the British group’s first acquisition since setting out ambitious expansion plans in February. JD currently trades from over 3,400 stores across 32 territories, including Britain, France, Germany, the United States and Australia. Courir, which has 313 stores across six countries in Europe, including France, Spain and Belgium, is currently majority owned by Equistone Partners Europe which acquired it in 2018. JD [Sports said on Tuesday that in accordance with French law Courir’s management will start a consultation process with its employee representative bodies](https://www.financedigest.com/quidditch-becomes-quadball-as-sports-bodies-change-name.html "Quidditch becomes quadball as sport’s bodies change name") before a binding sale and purchase agreement can be reached. Given the deal also requires the approval of the [European Commission](https://www.financedigest.com/ftx-collapse-shows-urgent-need-to-finalise-eu-crypto-rules-says-european-commission.html "FTX collapse shows urgent need to finalise EU crypto rules, says European Commission"), JD said it was not expected to complete before the second half of 2023. It said it would pay 325 [million euros](https://www.financedigest.com/sp-global-fined-1-1-million-euros-for-premature-credit-rating-publications.html "S&P Global fined 1.1 million euros for premature credit rating publications") for Courir, funded through existing cash resources, and take on debt of 195 million euros. In 2022, Courir made a [profit](https://www.financedigest.com/australias-westpac-flags-950-million-profit-hit-led-by-energy-exit-costs.html "Australia’s Westpac flags 0 million profit hit, led by energy exit costs") of 47.4 million euros on revenue of 609.8 million euros. In February, JD said it would spend up to 3 [billion pounds](https://www.financedigest.com/edf-delays-uk-nuclear-project-to-2027-ups-price-by-3-billion-pounds.html "EDF delays UK nuclear project to 2027, ups price by 3 billion pounds") to open as many as 1,750 stores over five years, as CEO Régis Schultz outlined his plans for the retailer to become an athletic leisurewear “powerhouse. The [group also said on Tuesday it had completed the purchase of the remaining 20% of JD Sports Fashion](https://www.financedigest.com/italian-fashion-group-otb-joins-lvmh-led-blockchain-platform.html "Italian fashion group OTB joins LVMH-led blockchain platform") Germany. It is also in talks with the [minority shareholders](https://www.financedigest.com/edfs-minority-shareholders-scramble-to-challenge-nationalisation-price.html "EDF’s minority shareholders scramble to challenge nationalisation price") of Iberian Sports Retail Group over its future ownership. Shares in JD were up 2.8% in early trading, extending its gains this year to 33%. ($1 = 0.9084 euros) (Reporting by Eva Mathews in Bengaluru and [James Davey in London](https://www.financedigest.com/how-to-grow-your-luxury-boutique-brand-online-james-sanders-london-diamonds.html "How to grow your luxury boutique brand online – James Sanders London Diamonds"), editing by Sarah Young and Sonali Paul) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---