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JD Sports Fashion Plc agreed to buy U.S. sportswear retailer Finish Line Inc., which is valued at a total of $558 million. JD Sports Fashion will acquire 100% of issued and outstanding Finish Line stock valued at $13.50 per share.
Finish Line is one of the largest retailers of premium multi-branded athletic footwear, apparel and accessories in the United States, trading from 556 branded retail stores across 44 states and Puerto Rico and online.
“This is a landmark day for JD and will be transformational for the business. “It immediately offers a major presence in the US, a clear next step to further increase our global scale.”JD Sports Executive Chairman Peter Cowgill said.
The deal, is expected to be complete no earlier than June.