JD Sports acquires 60% stake in sports fashion retailer MIG
JD Sports Fashion has agreed to acquire a 60% stake in Marketing Investment Group.
Founded in 1989, the Polish business is currently majority owned by brothers Andrzej and Zbigniew Grząka and operates 410 retail stores and trading websites across nine countries in Central and Eastern Europe.
The company sells a range of sports fashion footwear, clothing and accessories from leading global brands primarily under the Sizeer and 50 Style fascias. In the year to 31 January 2020, MIG’s revenues reached £200 million.
JD Sports and MIG expect to complete the acquisition before the end of May.
Peter Cowgill, executive chairman of JD Sports Fashion, 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 have observed and admired the development of MIG over a number of years and we are confident that the combination of their highly experienced and knowledgeable management team, together with the expertise of the JD leadership team, will provide the group with strong foundations from which to successfully optimise the opportunities in the region.”
