JD Sports has received a blow with the UK’s Competition and Markets Authority (CMA) again provisionally blocking its acquisition of the Footasylum chain after a review of its decision to block the deal.
In what looks to be a strong fit, retail giant JD Sports Fashion has made a multi-million-pound investment in UK performance wear/althleisure retailer Gym King, taking a “significant” minority stake in the firm.
Buy-now-pay-later lender Klarna has acquired fledgling social shopping platform Hero for around £115 million, according to people familiar with the deal. It will be added to Klarna’s platform of 250,000 retail partners.
Being a listed business has its advantages, but also means closer scrutiny and a need to respond to the interests of shareholders. Both long-time-listed JD Sports and newcomer THG have felt this keenly in recent days.
JD Sports Fashion continues to be extremely active on the acquisition front. Last week it reportedly snapped up a controlling stake in Manchester-based Missy Empire, and this week it has announced a big move in Spain.
Investors in Gemfields, the parent of high-end jeweller Fabergé, are unhappy. The gem producer and brand owner can expect a backlash over executive bonuses and the lack of transparency in its bonus scheme.