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John David Group acquires Allsports

By FashionUnited

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The John David Group has acquired rival Allsports for £18 million. The owner of JD Sports bought the company after it had been restructured by its administrator, BDO Stoy Howard. Allsports went into administration in September of this year, with 92 of its 270 stores closing at a cost of 1,300 jobs. JD is expected to keep 111 stores that it would add to its existing inventory and retains an option on the remaining 67.

JD is making the acquisition in order to boost its market position. There is concern in the sports sector that JD could be subject to a buy-out or take-over by a major foreign sports company as the sector suffers a slowdown in UK sales. JD is the number three player in the market, with Allsports in fourth place.

JD Sports