JD Sports has bought the eight-store menswear retailer Cecil Gee for £1.7 million.
“The acquisition of the Cecil Gee stores provides us with a low risk springboard for the development of a well funded profitable premium brand fashion chain,” says JD executive chairman Peter Cowgill.
JD has also announced that JD Sprinter Holdings 2010, its newly incorporated 50.1 per cent subsidiary, has acquired the trading businesses that make up the Sprinter group of companies in Spain for €20 million.
The sports retailer has 47 stores, primarily based in Andalucia and Levante.
The remaining 49.9 per cent of the shares in JD Sprinter are owned equally between the Segarra family, who founded Sprinter, and the Bernad family, who have been investors in Sprinter for 15 years.
