JD Sports Fashion acquires majority stake in Deporvillage

JD Sports Fashion Plc has announced that on June 25, 2021, Iberian Sports Retail Group SL (‘ISRG’), its existing 50.02 percent intermediate holding company in Spain acquired 80 percent stake in Deporvillage for 140.4 million euros.

Commenting on the transaction, Peter Cowgill, executive chairman of JD Sports Fashion Plc, said: “Deporvillage has a strong consumer-centric approach and is the market leader in its categories in Spain with significant potential for further international development.”

The company said in a statement that based in Manresa in Catalonia, Deporvillage is an online only retailer focussing on the sale of specialist sports equipment principally for cycling, running and outdoor. After launching initially in Spain in 2010, Deporvillage has expanded internationally with country specific websites launched subsequently in Italy, France, Portugal, Germany and UK.

In the year to December 31, 2020, Deporvillage generated revenues of 117.8 million euros and a pre-tax profit of 7.7 million euros.

Deporvillage was established by Xavier Pladellorens and Ángel Corcuera, who, after a number of fund raising exercises, are currently minority shareholders. Post completion of the deal, the management will retain a 20 percent holding in the business and will be continuing in their roles as chief executive officer and chief purchasing officer respectively.