Shoe retailer Finish Line acquired by British sporting goods company

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.

» RELATED: US gun maker Remington files for bankruptcy

“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.”

About the Author