JD Sports Fashion PLC announced Wednesday that it has finalized its €520 million ($546 million) acquisition of Groupe Courir SAS, a French footwear retailer, following regulatory approval from the European Commission. The deal, first disclosed in May, overcame competition concerns after JD Sports agreed to divest Courir stores in Portugal and some locations in France to competitor Snipes.
Competition Concerns Addressed
The European Commission approved the acquisition after JD Sports and Courir proposed remedies to maintain competitive balance in the French and Portuguese markets. The sale of the Courir outlets to Snipes will be completed during JD Sports’ 2026 financial year, which begins in February 2025. Financial details of the Snipes transaction have not been disclosed.
Margrethe Vestager, European Commissioner for competition policy, emphasized the importance of these measures.
“The divestiture of certain Courir stores to Snipes will preserve competition in these markets, benefiting consumers in terms of prices, quality, and choice,” Vestager said in October when the deal received regulatory approval.
JD Sports completes Courir acquisition : Strategic Expansion
JD Sports’ CEO Régis Schultz described the acquisition as a pivotal move in the company’s growth strategy.
