Retail group JD Sports has entered into a conditional agreement to acquire a 60% share of Marketing Investment Group (MIG), a retailer of sports footwear, apparel and accessories based in Poland.
Brothers Andrzej and Zbigniew Grzaka founded MIG in Krakow in 1989. It has grown to have a network of 410 stores and associated websites across nine countries in central and eastern Europe.
Its stores operate under a number of names, including Sizeer and 50 Style, and sell a wide range of products from leading brands. In the year to January 2020, MIG generated revenues of around £200 million.
JD Sports executive chairman, Peter Cowgill, said the proposed deal, which is subject to approval from the competition authorities in Poland, would help the group build on its international development strategy.
The parties expect to complete the acquisition before the end of May 2021.