Shares in JD Sports Fashion PLC (LON:JD.) cut a dash in early deals as the sportswear fashion firm snapped out Go Outdoors Topco for £112.5mln.
The company paid cash for the acquisition and also assumed some £16mln of Go Outdoors’ debt.
The acquired chain has 58 outlets, most of which are situated on out-of-town retail parks, and in the 53 weeks to 31 January 2016 made a profit before tax of £4.9mln on revenues of £202mln.
"Go Outdoors is a great addition to our existing Outdoor business. The minimal overlap in store locations and their out of town, one-stop retailer approach complements the work we have done on the high street with Blacks and Millets and further strengthens our offering in the Outdoor sector,” said Peter Cowgill, JD’s executive chairman.
Shares in JD rose 3.4% to 330.3p.