Proactive Investors - JD Sports Fashion PLC (LON:JD) has taken full ownership of Poland’s Marketing Investment Group SA after completing the purchase of the 40% stake it does not already own.
The deal to buy Krakow-based MIG, was announced in August 2023, and has been completed following approval from the European Commission.
JD said taking full control of MIG would further simplify its European operations and create the opportunity to accelerate the rollout of the JD brand in Central and Eastern Europe.
JD, which sells Nike (NYSE:NKE), Adidas (ETR:ADSGN) and other sports fashion ranges, had originally acquired a 60% stake in MIG in 2021, as it looked to enter markets in central and eastern Europe.
In the financial year to January 2024, MIG generated revenues of approximately £270 million.
As at 30 December 2023, MIG operated a total of 403 stores across 13 countries, including 23 JD stores.
Financial terms of the deal were not disclosed.