JD Sports Fashion Plc has entered into a conditional agreement for the acquisition of 60 percent of Marketing Investment Group S.A. (MIG).
Commenting on the development, Peter Cowgill, Executive Chairman of JD Sports Fashion Plc, said: “This is an exciting acquisition for JD that will further build on the success of our international development strategy, expanding our operations into Central and Eastern Europe. We look forward to closing the transaction and welcoming the MIG team to the group.”
Based in Krakow, Poland, and founded in 1989, the company said in a statement, MIG is currently majority owned by brothers Andrzej and Zbigniew Grząka. The business operates 410 retail stores and associated trading websites across nine countries in Central and Eastern Europe, selling a wide range of sports fashion footwear, apparel and accessories from leading global brands primarily under the Sizeer and 50 Style fascias. In the year ended January 31, 2020, MIG generated revenues of approximately 200 million pounds.