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PRIVACY
Retail & Consumer

JD Sports completes $495m deal to expand presence in the US

The acquisition was first announced at the start of February

JD Sports has completed a $495m deal(Image: Nick Ansell/PA Wire)

JD Sports has completed a $495m deal that has seen it expand its presence in the US.

The Bury-headquartered retailer has acquired DLTR Villa, which operates 247 stores in America, mostly under the Sneaker Villa and DLTR brands.

The deal was completed on Wednesday, March 17, after first being revealed at the start of February.

At the time, JD said the deal, which gives it stores mostly in the north and east of the US, would complement its existing JD and Finish Line brands in the US and the Shoe Palace brand on America's west coast it bought in December.

Results for DLTR for the year ending February 1 2020 showed an EBITDA of $45.6m and profit before tax of $1.6m.

Peter Cowgill, executive chairman of JD, said: "We are delighted that this transaction, which gives us an enhanced presence in the north and east of the United States, has now formally completed.

"We look forward to working with the experienced management team at DTLR and all our colleagues in the United States to further enhance our premium retail experience and become a leading customer destination for sneakers and lifestyle apparel."

Glenn Gaynor, co-CEO of DTLR, added: "The DTLR Team look forward to being part of the JD family.