GO Outdoors owner expands in Europe with Polish retail chain acquisition
The owner of one of the UK’s largest suppliers of fishing tackle is set to expand its European empire with the acquisition of a majority shareholding in a Polish retail chain.
JD Sports Fashion, the owner of GO Outdoors, has entered into a conditional agreement to buy 60% of the Marketing Investment Group S.A. (MIG). Based in Krakow, and founded in 1989, the business is majority owned by brothers Andrzej and Zbigniew Grząka.
It currently operates 410 retail stores and associated websites across nine countries in central and eastern Europe, selling a wide range of fashion footwear, apparel and accessories from leading global brands under the Sizeer and 50 Style fascias.
In the year ended January 31st 2020, MIG generated revenues of approximately £200 million. Completion of the deal is subject to the customary closing conditions, including the approval by the competition authorities in Poland. It is expected to be finalised before the end of May this year.
In its half-year report for 2020, JD Sports stated that it had 315 stores across Europe as well as a presence in the Asian Pacific region and the US.
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 operations in central and eastern Europe. We have observed and admired the development of MIG over a number of years and are confident that the combination of its 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.
“We look forward to closing the transaction and welcoming the MIG team to the group.”