Cuatrecasas advises JD Sports and Sprinter on merger with sport zone in Spain and Portugal
JD Sports Fashion, JD Sprinter and Sport Zone (Sonae Group) have completed the merger of their sports retail businesses in Spain and Portugal through a joint venture known as Iberian Sports Retail Group, which will be the second largest sports retail group on the Iberian Peninsula, after Decathlon.
The memorandum of understanding was signed in March 2017 and the European Commission approved the transaction on September 2017.
The union of these sports retail firms represents a turnover of over €500 million, with an 11% market share. The group has over 300 stores in Spain and Portugal and employs over 6,000 workers.
JD Sports Fashion PLC operates a chain of retail stores which sell brand-name sports and leisure wear. The company, led by Peter Alan Cowgill, Brian Small and Siobhan Mawdsley, in 2016 recorded £1.822 Billion Revenues.
JD Sprinter Holdings 2010 SL retails sportswear, outdoor clothing, and related equipment. The company was incorporated in 2011 and is headquartered in Elche, Spain.
Cuatrecasas advised JD Sports Fashion and JD Sprinter with Juanjo Ruiz (Picture), Nuno Sá Carvalho, and counsel Irene Moreno-Tapia and Marta Pereira da Silva led this transaction.
Law Firms: Cuatrecasas;
Clients: JD Sports Fashion;