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Published
Feb 3, 2021
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JD Sports announces share placing to build acquisition warchest

Published
Feb 3, 2021

JD Sports said Wednesday it plans to sell about 6% of its shares to build a warchest as the biggest sportswear retailer in the UK seeks further acquisitions. Its current market capitalisation is around £7.95 billion.




The company may not have bought Topshop (as had been speculated) in the end, but it’s been on a buying spree. It recently bought DTLR Villa and Shoe Palace to expand its footprint in the US, for instance. And it has made numerous other acquisitions too. 

It said it wants to “build on the success of its international growth strategy” after starting its expansion outside of Europe with the establishment of a joint venture in Malaysia just over five years ago and continuing to expand its global presence since then.

It added that this strategy has been “a major factor in the significant growth of the group's profit before tax and exceptional items, which has increased from £100 million in the year ended 31 January 2015 to £439 million in the financial year ended 1 February 2020”.

The net proceeds of the placing, in conjunction with its existing giant cash reserves “will be used to capitalise on the acquisition opportunities available and invest further in the international expansion of the group”.

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