JD Sports just made a big move in the footwear industry. The UK retailer made headway in the US market by acquiring Finish Line for a reported $558 million USD. As power plays go, this deal is a two-for-one, as it also edges out long-time JD competitor Sports Direct International Plc, who have a large share in Finish Line.
Peter Cowgill, JD’s executive chairman, is quoted as saying: ‘This is a landmark day for JD and will be transformational for the business. It immediately offers a major presence in the US, a clear next step to further increase our global scale.’
It’s not clear what the immediate fall-out from the deal will be, or what this means for Finish Line customers, but we’ll keep you posted as the deal is finalised.