Courir's €520m Exit: Equistone Sells to JD Sports
Deal News | Nov 27, 2024 | Equistone Partners Europe
Equistone Partners Europe, a well-regarded mid-market private equity firm, has successfully completed the sale of Groupe Courir S.A.S to JD Sports Fashion Plc for €520 million. The transaction received conditional clearance from the European Commission as of October 22, 2024. Under Equistone's stewardship, Courir, a leading French sneaker retailer, expanded its store network to over 320 locations across Europe while embracing an omnichannel retail approach. Since Equistone's 2019 carve-out acquisition of Courir from Groupe Go Sport, the company has grown revenue from €390 million to €735 million by 2023. A significant milestone during this period was the acquisition of Denmark-based online retailer, Naked, in 2021. The change of ownership, according to JD Sports CEO, Regis Schultz, fits with their strategy to reach a broader customer base, focusing on women, fashion-conscious, and older demographics.
Sectors
- Retail
- Private Equity
Geography
- Europe – The article discusses Courir's operations and expansion in Europe, along with the European-wide reach of JD Sports, highlighting the geographic focus on Europe.
- France – Courir, the target company, is a leading French retailer, making France a key geographic element in the narrative.
Industry
- Retail – The article primarily involves Courir, a retail company with a vast network of sneaker stores across Europe, which aligns directly with the Retail Industry.
- Private Equity – Equistone Partners Europe, a private equity firm, played a significant role in the development and eventual sale of Courir, highlighting involvement in the Private Equity sector.
Financials
- €520 million – The sale price for the acquisition of Courir by JD Sports.
- €735 million – Revenue of Courir in 2023 post-Equistone's investment and expansions.
- €390 million – Revenue of Courir in 2019 when Equistone first acquired the company.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Equistone Partners Europe | Selling Company (Vendor) | Company | A mid-market private equity firm that facilitated Courir's growth before its sale to JD Sports. |
| Groupe Courir S.A.S | Target Company | Company | A leading French sneaker retailer acquired by JD Sports. |
| JD Sports Fashion Plc | Bidding Company (Buyer) | Company | A UK-based retailer focusing on sports fashion, which acquired Courir to enhance its reach among a more diverse customer base. |
| European Commission | Regulatory Authority | Government | Provided conditional clearance for the sale of Courir to JD Sports. |