JD completes Spanish mergers
Deal creates €500m business
JD Sports Fashion, JD Sprinter and Sport Zone (Sonae Group) have completed the merger of their sports retail businesses in Spain and Portugal through a joint venture known as Iberian Sports Retail Group, which will be the second largest sports retail group on the Iberian Peninsula, after Decathlon.
The deal represents a turnover of over €500 million, with an 11 per cent market share. The group has over 300 stores in Spain and Portugal and employs over 6,000 workers.