COURIR
Acquired by
JD SPORTS
COURIR acquired by JD SPORTS
Target
COURIR
Acquirer
JD SPORTS
Context
JD Sports submitted a binding offer to acquire 100% of Courir from the private equity firm Equistone Partners Europe. The transaction values the French company at an Enterprise Value of EUR520 million. For Equistone, this exit represents a remarkable success: the fund had acquired Courir in 2018 (a carve-out from Go Sport) for EUR283 million, transforming it into an autonomous and highly profitable player. The acquisition allows JD Sports to significantly strengthen its presence in France and integrate a brand with a strong female identity, which complements JD's historically more male-focused positioning.
COURIR, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as low as the 10.9x average currently observed in the Retail & Consumer sector.
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Target
Courir is the market leader in France for sneaker and fashion-oriented sportswear retail. With a network of over 313 stores (mainly in France, but with a growing footprint in Spain, Belgium, Portugal, the Netherlands, and Luxembourg), the company distinguishes itself through a unique positioning: it primarily targets a female and urban demographic, a segment often underserved by generalist competitors. Originally a subsidiary of Groupe Go Sport, Courir became independent in 2018 under the ownership of Equistone.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with COURIR
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 02/2019 | EQUISTONE | COURIR | FRANCE | Sport | Equistone acquired 100% of Courir from Groupe Go Sport for an Enterprise Value of EUR283 million. This disposal was vital for Rallye, which was seeking to reduce its debt load. The transaction was structured as an MBO: the existing management team reinvested alongside Equistone to gain autonomy. |
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