JD Sports has bought a 40% minority stake in MIG, making it the 100% sole owner of the company.
The retailer said the deal allows it to simplify its European operations while simultaneously creating the “opportunity to accelerate the rollout of the JD brand in Central and Eastern Europe”.
MIG, which trades as streetwear brand Sizeer and other complementary fascias selling a wide range of sports footwear, apparel and equipment from leading global brands, generated a revenue of approximately £270m in 2023.
The group trades via a total of 403 stores across 13 countries, including 23 JD stores as of December 2023.
At the time of announcing the acquisition, JD Sports chief executive Régis Schultz said: “Acquiring the remaining 40% stake in MIG allows us to accelerate the development of JD in Central and Eastern Europe, the strong foundations for which have been established alongside the outgoing shareholders.
“Increasing JD’s presence in the region through new store openings and further investment in our omnichannel capabilities is a key part of the strategic growth plan set out at our capital markets day presentation.
“The complementary Sizeer brand provides a strong platform for the MIG business and the JD brand has evidenced strong initial traction with the consumer, which we will continue to build upon.
“We look forward to closing the transaction and continuing an exciting journey with the local management team.”