JD Sports Fashion’s Spanish holding buys additional 18 percent stake in Deporvillage

JD Sports Fashion Plc has announced that Iberian Sports Retail Group SL (ISRG), the group's existing 50.02 percent intermediate holding company in Spain, acquired an additional 18 percent stake in Deporvillage SL from co-founders Xavier Pladellorens and Àngel Corcuera for cash consideration of 19.8 million euros.

Deporvillage was founded in 2010 and is based in Manresa in Catalonia, Spain.

The company is an online sports retailer specialising in cycling, running, outdoor, and other sports categories. It is currently the number one online sports retailer by market share in Spain, and has a well-established presence in Italy, Portugal and France.

JD Sports said in a statement that following the transaction, ISRG owns 98 percent of Deporvillage with the co-founders retaining a 2 percent interest. As part of the transaction, the co-founders will, following a transition period, step away from the management of the business.

ISRG and the co-founders have also entered into put and call options over the remaining 2 percent interest in Deporvillage with the consideration payable for this remaining holding being capped.