Freshfields-Led JD Sports Announces $1.1B Acquisition of US Rival Hibbett

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Freshfields-Led JD Sports Announces $1.1B Acquisition of US Rival Hibbett

 

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Freshfields-Led JD Sports Bolsters US Footprint with Strategic Acquisition

JD Sports, the renowned U.K. sportswear retailer, orchestrated by Freshfields Bruckhaus Deringer LLP, disclosed on Tuesday a proposed acquisition of the U.S. athletic fashion retailer, Hibbett Inc., for an impressive $1.08 billion. This move aims to amplify JD Sports’ influence in the burgeoning market of the American southeast.

The purchase price of $87.5 per share represents a premium of over 20% above Hibbett’s Monday closing, signaling JD Sports’ determination to consolidate its foothold in North America. The strategy underscores the company’s ambitious expansion, leveraging both cash reserves and extended banking facilities.

Freshfields-Led JD Sports Agrees To Buy US Rival For $1.1B: Freshfields-Led Financing and Advisory

Under the strategic guidance of Freshfields, JD Sports plans to finance this acquisition and refinance Hibbett’s debt through $300 million of its U.S. cash reserves, supplemented by a $1 billion boost to its existing banking arrangements. Financial advisement for JD Sports is provided by Baird and Rothschild & Co., ensuring a robust financial strategy moving forward.