Britain's JD Sports buys Go Outdoors for 112 mln stg

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Britain's JD Sports buys Go Outdoors for 112 mln stg

Sportswear retailer JD Sports Fashion has purchased Go Outdoors for £112.3 million, reports Reuters.

It noted that the vast majority of the group's existing outdoor stores are situated on the high street and therefore have minimal crossover with those of Go Outdoors.

The acquisition of Go Outdoors adds to JD Sports' existing outdoors shops stable, which includes Blacks, Millets, Ultimate Outdoors and Tiso, with a combined revenue in excess of £155m in the 52 weeks to January 2016, and 182 stores.

Trading from 58 United Kingdom stores, mainly in out-of-town retail parks, it made a pretax profit of 4.9 million pounds on revenue of 202.2 million pounds in its 2015-16 year.

As a result of the deal, Go Outdoors founders Paul Caplan and John Graham will leave the business. "I am excited by the future prospects this holds for the JD group". The company announced plans to expand into Australia, where it acquired Next Athleisure, with 32 stores, and to press ahead with European expansion, despite the Brexit vote, according to the Guardian.

The group has recently acquired businesses in Portugal and the Netherlands.

Shares in JD Sports have risen 53 percent so far this year as the firm has traded robustly, in contrast to troubled rival Sports Direct.

"Consumers also appear to be undeterred by what has been a politically tumultuous year".

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