JD Sports ‘close to buying Blacks’
Sportswear retailer JD Sports has confirmed today that it is in advanced discussions with Blacks Leisure regarding a takeover deal.
It had been reported in several newspapers over the weekend that the sportswear retailer was poised to acquire the outdoor clothing company.
JD Sports was said to have outbid Blacks Leisure’s largest shareholder Sports Direct, which owns a 22.5% stake in the business, as well as Dragons’ Den TV star Peter Jones and an unnamed fourth company.
In a statement issued today JD Sports said: “JD notes the press speculation in relation to a potential offer for the assets of Blacks Leisure Group plc (“Blacks”) and the recent announcement made by Blacks, and confirms that it is in advanced discussions with Blacks in relation to an offer for certain of its assets. A further announcement will be made on conclusion of those discussions.”
On Friday, it was reported that JD Sports had offered around £20 million for Blacks which operates 98 Blacks and 208 Millets stores.
