JD Fashion Plc, the U.K. sports fashion and footwear chain, has acquired sports retailer Chausport SA, based in Lille, France, for 8 million ($11.1 million) in its first move into the French market. Chausport was founded in 1980 and has 78 stores across France. For the year ended December, 31 2007, Chausport's revenues were 40.7 million ($56.2 million) and posted pre-tax profits of 600,000 ($830,000). Chausport chief executive and founder Jerome Lepoutre will stay with the business.
Peter Cowgill, executive chairman of JD, said: “We are very pleased to announce the acquisition of Chausport, which will give us a foothold in a new and sizeable European market. By drawing on the current management teams expertise, we are confident that this acquisition will bring both financial and strategic benefits in the future.”
For the fiscal year ended January 31, JD Sports, which owns the JD, Bank and Scotts chains, reported that sales increased 13% to £670.9 million ($926.7 million), with pre-tax profits up 9% to £38.2 million ($52.8 million). It has more than 430 shops.
