Sees deal completed in H2 (Il Sole 24 Ore Radiocor) - London, 23 Apr - JD Sports expects to complete the acquisition of Hibbett in the second half of 2024.

Headquartered in Birmingham, Alabama, Hibbett is a sports fashion-inspired retailer with 1,169 stores, as February 3, located in communities in 36 states across the US. Its main retail fascias are Hibbett and City Gear.

In the 53 weeks ended 3 February 2024, Hibbett generated net sales of 1.729 billion dollars, EBITDA of 186.0 million and profit before tax of 131.6 million. Gross assets on the balance sheet at February 3 were 909.2 million dollars. On a pro-forma basis, the combined revenues of JD Sports and Hibbett in North America would be approximately 4.7 billion pounds, which would increase North America's share of JD Sports' sales from approximately 32% to approximately 40%.

JD Sports expects annual cost synergies to be at least 25 million dollars.

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(RADIOCOR) 23-04-24 08:36:33 (0179) 5 NNNN