JD Sports Fashion has announced a deal to buy Champion Sports Holdings, for an undisclosed sum. The deal is subject to approval from the Competition Authority.
Established in 1992, Champion Sports sells sports clothing and footwear in Ireland and has 22 stores in towns nationwide. It also has one store in Northern Ireland. Prior to this deal, JD has a limited presence in Ireland with only eight stores.
Champion recorded a turnover of €54m and gross assets of €36.2m in 2009. In a statement, JD said it expects the deal to be earnings enhancing in future years after investment in the store portfolio.
It added that Champion's management team, headed by chief executive John Quinn, will be retained after the acquisition.
