British sports retailer JD Sports has announced plans to combine its Spanish and Portuguese business with local company Sport Zone, in a plan to create the second-largest sports retailer in Iberia.
JD Group will own 50 per cent of a new “Iberian Sports Retail Group”, with a further 20 per cent held by the family shareholders of JD Sprinter, the Spanish business in which it bought a controlling stake in 2011.
The remaining 30 per cent will be held by Portuguese retail group Sonae.
JD said the combined group will have revenues of €450m, 15 per cent higher than JD’s total European revenues last year. It said the deal “will generate further scale, momentum and resources to continue the current growth of the JD Group.”