JD Sports given approval from competition watchdog to take over Go Outdoors

 
Helen Cahill
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JD Sports owns various outdoors brands (Source: Getty)

JD Sports announced today that it has received the green light from the Competition and Markets Authority (CMA) to acquire Go Outdoors.

JD Sports first announced its intention to buy Go Outdoors for £112m at the end of November last year. As part of the transaction, JD Sports will assume a net debt of around £16m.

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Go Outdoors, which sells camping equipment and bikes, will be part of a group of brands at JD Sports, including Blacks, Millets, Ultimate Outdoors and Tiso. Peter Cowgill, JD Sports' executive chairman, said Go Outdoors will make an "excellent addition" to the group.

George Mensah, analyst at Shore Capital, said: "With Go Outdoor's real estate portfolio (currently 58 stores) largely out of town, we believe this to be a complementary fit to the fascias within the group's existing outdoor roster (Blacks; Millets; and Tiso), where there is more of a high street focus.

"In addition to the store estate, we believe JD is acquiring a business with stronger online penetration in outdoor apparel compared to its existing formats and a significant customer database, underpinned by a loyalty card programme."

In its results for the year, JD Sports posted a 55 per cent jump in operating profit, with revenues up by 31 per cent to £2.4bn.

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