JD Sports, the U.K. chain, has acquired a majority stake in Sprinter Group, which has 47 stores in southeast Spain. The U.K firm is expected to expand the number of Sprinter outlets across Spain.
JD has invested £17.7m for a 50.1 percent stake in a new joint venture company that will take over Sprinters shops, while the stake held by its existing family owners will be reduced to 49.9 percent.
JD also said it acquired the Cecil Gee men’s brand and eight of its outlets in the U.K. from Moss Bros for £1.7m. JD intends to run the stores as a going concern under the Cecil Gee name, but with a revamped product range that will include some of JDs branded fashion lines.
