JD Sports acquires controlling stake in Tiso
JD Sports Fashion has acquired a controlling stake in Edinburgh-based outdoor retailer Tiso Group for an undisclosed sum.
In a statement, the Tiso Group said the deal would enable it to expand and develop its existing businesses Alpine Bikes, George Fisher and Blues the ski shop.
Founded in 1962 by mountaineer Graham Tiso, the group operates 10 stores across Scotland.
While Chris Tiso will stay on as chief executive after the sale, JD executive chairman Peter Cowgill will become the group’s chairman. In addition, the Tiso family will retain a shareholding in the business.
Never Miss a Retail Update!KPMG’s David McCorquodale, who was lead advisor on the sale, said: “The outdoor retail market is consolidating and scale with national coverage is an important aspect of meeting consumer needs.”
“To bring the Tiso brand into an ambitious larger group that can offer the full range of choice is a logical step for the Tiso family to take.
“For JD Sports, there is plenty of opportunity for further development of a business which has market leaders in Tiso, George Fisher, Alpine Bikes and Blues skiing.”
