Shoe retailer Finish Line acquired by British sporting goods company

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GETTY IMAGES

Shoe retailer Finish Line has been acquired by a British sporting goods company.

European JD Sports Fashion PLC will acquire Finish Line in a deal valued at $558 million. JD Sports is the largest sportswear retailer in the United Kingdom.

Finish Line has approximately 556 stores, and another 375 in-store shops in Macy’s department stores. Its same store sales fell nearly 8 percent in the fourth quarter of 2017. Finish Line has four locations in the Dayton region.

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“The acquisition represents an excellent opportunity for JD to establish its market leading multi-brand proposition in the world’s largest athleisure market,” said Peter Cowgill, executive chairman, JD Sports. “It immediately offers a major presence in the U.S., a clear next step to further increase our global scale. Finish Line has many similarities to JD with a strong bricks-and-mortar offering complemented by an advanced and well-invested digital platform.”

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