JD Sports and Gym King are doing an about-face on their transaction in July 2021 that saw JD Sports take a “significant” minority stake in the Yorkshire, England-based athleisure retailer.
Gym King reported that Founder Jay Parker, via an entity GKH Ventures Ltd., completed the buyout of JD Sports’ stake in The Gym King (Holdings) Ltd., with Parker regaining 100 percent ownership in the business.
The terms of the deal, which were closed on June 28, 2024, were not disclosed.
Parker said at the time of the investment in 2021, “This strategic partnership will help Gym King capitalize on the huge opportunity ahead of us, becoming a world-renowned ‘lifestyle performance’ brand. Our core brand values—Mindset, Resilience and Community—align perfectly with the JD business and consumer. We have continued to see impressive growth over the last 12 months with a focus on our own online, direct-to-consumer offering alongside our premium wholesale distribution to selected retail partners. The clear synergies with JD Sports will create a strong platform for accelerated growth.”
“Investing in Gym King was a natural follow to strengthen our partnership and is a testament to the work Jay and his team have put in over recent years,“ JD Sports Fashion Executive Chairman Peter Cowgill said back in June 2021. “The future for Gym King has a great number of opportunities, and we are delighted to be part of that journey.”
JD Sports owns JD, Finish Line, Shoe Palace, and DTLR in the US.
Image courtesy Gym King
