Divestment of UK non-core fashion brands update

RNS Number : 2333P

JD Sports Fashion Plc

08 February 2023

 

8 February 2023

JD Sports Fashion Plc

Completion of the Divestment of Certain Non-core UK Fashion Brands

JD Sports Fashion Plc ('Group') announces that it has formally completed the divestment of the businesses which trade as Tessuti (inc Xile), Scotts, Choice, Giulio and Cricket to Frasers Group Plc ('Frasers'). All the terms of the transaction remain as outlined in the announcement made on 16 December 2022.

Separately, the Group can confirm that Rascal Clothing Limited ('Rascal') has been withdrawn from the transaction with Frasers as one of the founders has exercised a pre-emption right agreed as part of the Group's acquisition of Rascal on 5 February 2019. The divestment of Rascal completed on 6 February 2023.

The Group expects to complete the divestment of the business which trades as Topgrade Sportswear in due course.

Enquiries:

JD Sports Fashion Plc    Tel:  [phone]

Andy Higginson, Chair

Régis Schultz, Chief Executive Officer

Neil Greenhalgh, Chief Financial Officer

Alison Lees, Director of Investor Relations and Treasury

FGS Global    Tel: [phone]

Rollo Head

Jenny Davey

James Thompson

 

END

 

 

STRFFFSFFVIDIIV