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12 Mar 2021 | 07:22

JD Sports moves into Eastern Europe with MIG stake

(Sharecast News) - JD Sports Fashion made its first foray into central and eastern Europe after buying a 60% stake in Poland's Marketing Investment Group (MIG).

The sports, fashion and outdoor chain did not disclose any financial details. Krakow-based MIG operates 410 retail stores and associated trading websites across nine countries in the region primarily under the Sizeer and 50 Style fascias. In the year ended 31 January 2020, MIG generated revenues of approximately £200m.

JD and MIG anticipate completing the acquisition before the end of May 2021.

"This is an exciting acquisition for JD that will further build on the success of our international development strategy, expanding our operations into central and eastern Europe," said JD chief executive Peter Cowgill.

"We have observed and admired the development of MIG over a number of years and we are confident that the combination of their highly experienced and knowledgeable management team, together with the expertise of the JD leadership team, will provide the group with strong foundations from which to successfully optimise the opportunities in the region."
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