UK tackle supplier acquires US sportswear chain for £900m

One of the UK’s largest suppliers of fishing tackle is investing $1.1 billion (£900m) to acquire a US sportswear chain.

JD Sports Fashion, owner of |Fishing Republic and GO Outdoors, has added Alabama-based chain Hibbetts to accelerate its push into the US market and represents the largest takeover for the retailer, which is based in the North West of England.

JD Sports Fashion CEO Régis Schultz (pictured) said: “The acquisition is in line with our strategic priorities and is a very important transaction for our strategic and financial development.

“It enhances our presence within North America and achieves the objective of strengthening our Complementary Concepts Division. Hibbett’s footprint is highly complementary, adding a stronger presence in communities across the southeastern US where we currently have a limited presence.

“It will provide a stronger platform for the roll-out of the JD fascia in the US.

“Financially, it accelerates our growth plans within the US and is expected to be earnings accretive from year one before the potential synergies are taken into account.”