JD Sports Fashion Plc is in exclusive talks to buy French chain Courir for an enterprise value of €520 million ($570 million) as it further expands in continental Europe, heightening its rivalry with Frasers Group Plc.
The UK chain said Tuesday that it has started negotiations to buy Courir from Equistone Partners Europe for €325 million in cash and €195 million in assumed debt. The sale is subject to regulatory approval and requires a consultation process with employee representatives.
JD Sports has been vying with Frasers’s Sports Direct chain to expand more in Europe. Sports Direct was aiming to buy rival French chain Go Sport out of receivership, but lost out to Intersport.
Equistone bought Courir from Go Sport in 2018. The chain has annual sales of €610 million and operates in six European countries.
Shares of JD Sports rose as much as 2.9% Tuesday morning in London.
(Updates with shares in final paragraph)
