JD Sports Acquires US Retailer Hibbett for $1.1 Billion to Boost US Expansion

Apr 23, 2024, 07:18 AM

British sportswear retailer JD Sports has agreed to acquire American athletic-fashion retailer Hibbett for approximately $1.1 billion. The acquisition is part of JD Sports' strategic expansion into the U.S. market, particularly across the southeastern region. The deal values Hibbett at $87.50 per share in cash, a significant increase from its early 2024 price of around $72 per share. This move is expected to accelerate JD Sports' growth in the U.S., where Hibbett is based in Alabama.