JD Sports has acquired the 78-store Chausport chain for eight million euros.
The French sports retailer was founded in 1980 and has its base near Lille. For the year ended December 31, 2007 Chausport, which is particularly well represented in northern France, had a turnover of 40.7million euros. The JD board expects that the Chausport acquisition will be earning enhancing in future years after investment both in the existing portfolio and in new stores.
“We are very pleased to announce the acquisition of Chausport, which will give us a foothold in a new and sizeable European market,” says Peter Cowgill, executive chairman of JD. “By drawing on the current management team’s expertise, we are confident that this acquisition will bring both financial and strategic benefits in the future.”