JD Sports Fashion Plc has acquired the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) from its minority shareholders and will now become the 100 percent sole owner of MIG.
The company said in a statement that JD originally acquired a 60 percent stake in Poland-based MIG in April 2021, and since then has established the JD fascia in five countries across Central and Eastern Europe operating 18 JD stores.
Commenting on the development, Régis Schultz, CEO of JD, said: “Acquiring the remaining 40 percent stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe. The complementary Sizeer brand provides a strong platform for the MIG business and the JD brand has evidenced strong initial traction with the consumer, which we will continue to build upon.”
MIG also continues to trade profitably through Sizeer and other complementary fascias, selling a wide range of sports footwear, apparel and equipment from leading global brands. In the year ended January 31, 2023, MIG generated revenues of approximately 270 million pounds.