ISRG currently operates more than 460 stores across Europe, including JD in Iberia. Credit: speedpropertybuyers/Jeff Djevdet/Flickr(Creative Commons).

UK-based retailer JD Sports Fashion (JD Sports) has revealed plans to acquire the remaining shares of Iberian Sports Retail Group (ISRG) for €500.1m ($544.9m). 

The company would buy 49.98% of shares in ISRG, which are currently held by Balaiko Firaja Invest and Sonae Holdings. The purchase will make it the sole owner of the business. 

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ISRG currently operates a network of more than 460 stores across Europe, including JD in Iberia, Sprinter in Spain, Sport Zone in Portugal and Aktiesport and Perry Sport in the Netherlands.  

ISRG also owns 98% of shares in the online sports store Deporvillage and has a 50.1% holding in the fitness equipment company Bodytone. 

During the year ending 31 January 2023, ISRG reported consolidated revenues of €1.23bn ($1.34bn) and consolidated profits before tax of €96.6m ($105.9m). 

JD Sports CEO Régis Schultz said: “At our Capital Markets Event earlier in the year, we emphasised the benefit of having strong complementary concepts to support our ‘JD first’ global growth strategy. ISRG is a highly successful business and one of the leading players in sports retail in Iberia. By bringing the two businesses closer together, there is significant potential for accelerating growth. 

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“We sincerely thank the minority shareholders, Balaiko and Sonae, for their important contributions to the business during our time as partners.” 

In May 2023, JD Sports held exclusive talks to purchase France-based sports footwear specialist Groupe Courir for an enterprise value of €520m ($569.8m). 

JD Sports then entered the Middle Eastern market in June 2023 by signing a ten-year franchise deal with Dubai-based wellbeing company GMG.