JD Sports 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) to enter the French market. Chausport was founded in 1980 and has 78 stores across France. For the year ended 31 December 2007, Chausport reported a turnover of €40.7 million ($56.2 million) and pre-tax profits of €600,000 ($830,000).


 



Chausport chief executive and founder Jerome Lepoutre will stay at 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 team’s expertise, we are confident that this acquisition will bring both financial and strategic benefits in the future.”


 


In the year ended January 31, JD Sports, which owns the JD, Bank and Scotts chains, reported an increase in turnover of 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.