Two of the larger footwear retail presences in the world is about to become one. UK-based JD Sports has agreed to purchase American footwear retailer Finish Line for $558 million in a move that will give its new owner instant presence in the United States. With the acquisition, JD Sports will now have close to 1,500 stores worldwide, closing the gap with Foot Locker, which operates over 1,800 stores globally.
The second highest stakeholder in Finish Line is Sports Direct International, a direct rival of JD Sports in the UK; Sports Direct owns a 9.9% stake in the company. Additionally, according to Bloomberg, the significant corporate headcount is not expected to change as both companies have run its business in two distinct regions.
