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Article Date: April 2024
Word Count: 473

JD Sports Will Pay $1.1 Billion for Hibbett

The UK-based retailer and parent of Finish Line and other banners in the U.S., agreed to purchase the small-market sneaker and apparel retailer for $87.50 per share in cash, for a total enterprise value of $1,109 million. While JD has not yet reported full-year 2023 results, it said the addition of HIBB pushes it to $5.8 billion in pro forma annual U.S. revenue. The deal will be financed with existing U.S. cash resources of $300 million and a $1,000 million extension to JD’s credit facilities, and is expected to close in ... Log in to view full article.


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